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This paper surveys and unifies a number of recent contributions that have collectively developed a metric for decentralized wireless network analysis known as transmission capacity. Although it is notoriously difficult to derive general end-to-end capacity results for multi-terminal or ad hoc networks, the transmission capacity (TC) framework allows for quantification of achievable single-hop rates by focusing on a simplified physical/MAC-layer model. By using stochastic geometry to quantify the multi-user interference in the network, the relationship between the optimal spatial density and success probability of transmissions in the network can be determined, and expressed - often fairly simply - in terms of the key network parameters. The basic model and analytical tools are first discussed and applied to a simple network with path loss only and we present tight upper and lower bounds on transmission capacity (via lower and upper bounds on outage probability). We then introduce random channels (fading/shadowing) and give TC and outage approximations for an arbitrary channel distribution, as well as exact results for the special cases of Rayleigh and Nakagami fading. We then apply these results to show how TC can be used to better understand scheduling, power control, and the deployment of multiple antennas in a decentralized network. The paper closes by discussing shortcomings in the model as well as future research directions.