1. INTRODUCTION

2. OBSERVATIONS  
2.1. PS1 Survey Summary  
2.2. A Search for Fast Optical Transients  

3. THE PROPERTIES OF PAN-STARRS1 FAST OPTICAL TRANSIENTS  

4. LIMITS ON THE RATE OF EXTRAGALACTIC FAST OPTICAL TRANSIENTS  

5. THEORETICAL EXPECTATIONS FOR THE LUMINOSITY OF FAST OPTICAL TRANSIENTS  

6. IMPLICATIONS FOR LSST  

7. CONCLUSIONS