Polyelectrolytes are electrolytes asymmetric both in charge and size. Their
properties in solution are dominated by Coulombic forces, and without a de
tailed understanding of these interactions, no interpretation of experiment
al data is possible. This paper is a review of recent developments in the t
heory of highly asymmetric electrolytes of spherical shape resembling surfa
ctant micelles. Three different models are discussed: (a) the cell model, w
hich is focused on the small ion-macroion interaction; (b) the model that t
reats the solution as an effective one-component fluid of macroions; and (c
) the isotropic model, where the solution is represented as a mixture of ch
arged spheres. Traditionally, the electrostatic interactions are accounted
for via the solution of the Poisson-Boltzmann equation. This theory, howeve
r, ignores the fluctuations around the most probable distribution and may y
ield poor results for systems with multivalent ions. This paper focuses on
developments beyond the Poisson-Boltzmann theory; the results of computer s
imulations and integral equation theories represent the major part of the r
eview.