Recent Developments in the Theory of Heavy Quarks

Recent developments in the theory of heavy quarks are reviewed. In the area of heavy quark fragmentation, there has been progress in the study of both pertubative and nonperturbative processes, including the identification of new observable nonperturbative fragmentation parameters. There has also been considerable theoretical activity in the study of inclusive rare and semileptonic decays of bottom hadrons. UCSD/PTH 93-31, JHU-TIPAC-930027 October 1993 * On leave from The Johns Hopkins University, Baltimore, Maryland. To appear in the Proceedings of the Advanced Study Conference on Heavy Flavours, Pavia, Italy, September 3-7, 1993.