Rare Decays

In this talk we highlight recent results on measurements of, and searches for, rare and exotic decays of heavy hadrons. New world records in peak luminosity are constantly being set at the B-factories and the Tevatron where BaBar, Belle, CDF, and D\O\ have all accumulated unprecedented data samples. We discuss precision measurements that are now being performed using $B$ decay channels with branching fractions on the order of $10^{-6}$ and searches for new modes that probe $D$ meson decay near the $10^{-6}$ level and $B$ meson decay near the $10^{-7}$ level. These studies are strongly motivated by new physics scenarios that predict large deviations from Standard Model expectations. Emphasis will also be placed on the complementary nature of flavor physics programs at low energy $e^+e^-$ and high energy hadron colliders.