What is the Real K Factor?
  The theoretical K factor, describing the difference between the leading and higher order cross sections, has no precise definition. The definition is sensitive to the order of the fit to the parton densities and the number of loops at which alpha_s is evaluated. We describe alternate ways to define the K factor and show how the definition affects its magnitude and shape for examples of hadroproduction of W^+ bosons, Drell-Yan lepton pairs, and heavy quarks. We discuss which definition is appropriate under certain circumstances. 
R. Vogt (UC Davis and LBNL)