Abstract
A theory of sequential decay of an unstable system is presented using the projection-operator algebra suggested by the recent projection-operator approach to reaction theory. The formulation is an attempt to provide an alternative to perturbation theory. While exact, the theory is cast in a phenomenological form that is suggestive in its interpretation and may be extended so as to apply to sequential transitions in general. Examples treated include the transition between unstable states of an atom induced by an intense electromagnetic field as well as a problem in resonance fluorescence. Higher-order corrections to the more familiar theory are a natural consequence of the description of sequential decay and sequential transitions presented here.