Abstract
The theory of rf SQUID opteration, including the effects of fluctuations, is discussed. The theory is in agreement with the large signal and small signal behavior of real devices under optimum conditions. The noise levels of many existing rf SQUID systems are substantially above those predicted on the basis of amplifier noise temperatures. All rf SQUIDs seem to exhibit excess noise of unknown origin at low input frequencies. The limitations of devices and future directions of development are considered.

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