  We study the long-range directed polymer model on $\mathbbm{Z}$ in a random
environment, where the underlying random walk lies in the domain of attraction
of an $\alpha$-stable process for some $\alpha\in(0,2]$. Similar to the more
classic nearest-neighbor directed polymer model, as the inverse temperature
$\beta$ increases, the model undergoes a transition from a weak disorder regime
to a strong disorder regime. We extend most of the important results known for
the nearest-neighbor directed polymer model on $\mathbbm{Z}^d$ to the
long-range model on $\mathbbm{Z}$. More precisely, we show that in the entire
weak disorder regime, the polymer satisfies an analogue of invariance
principle, while in the so-called very strong disorder regime, the polymer end
point distribution contains macroscopic atoms and under some mild conditions,
the polymer has a super-$\alpha$-stable motion. Furthermore, for $\alpha \in
(1,2]$, we show that the model is in the very strong disorder regime whenever
$\beta>0$, and we give explicit bounds on the free energy.
