  We analyze bright-end (K = 10 -17) galaxy counts from a number of
near-infrared galaxy surveys. All studies available as of mid-1997, considered
individually or collectively, show that the observed near-infrared galaxy
number counts at low magnitudes are inconsistent with a simple no-evolution
model. We examine evolutionary effects and a local underdensity model as
possible causes of this effect. We find that the data are fit by either a
factor of 1.7 - 2.4 deficiency of galaxies out to a redshift of z = 0.10 -
0.23, depending on the k corrections and evolution (e-) corrections used and
the adopted values of the Schechter luminosity function parameters, or by
unexpectedly strong low redshift evolution in the K-band, leading to
(e+k)-corrections at z= 0.5 that are as much as 60% larger than accepted
values. The former possibility would imply that the local expansion rate on
scales of several hundred Mpc exceeds the global value of H_0 by up to 30% and
that the amplitude of very large scale density fluctuations is far larger than
expected in any current cosmogonic scenario. The latter possibility would mean
that even the apparently most secure aspects of our understanding of galaxy
evolution and spectral energy distributions are seriously flawed.
