We explain the relationship between various characteristic classes for smooth
manifold bundles known as ``higher torsion'' classes. We isolate two
fundamental properties that these cohomology classes may or may not have:
additivity and transfer. We show that higher Franz-Reidemeister torsion and
higher Miller-Morita-Mumford classes satisfy these axioms. Conversely, any
characteristic class of smooth bundles satisfying the two axioms must be a
linear combination of these two examples.
We also show how higher torsion invariants can be computed using only the
axioms. Finally, we explain the conjectured formula of S. Goette relating
higher analytic torsion classes and higher Franz-Reidemeister torsion.Comment: 24 pages, 0 figure