Default logic can be regarded as a mechanism to represent families of belief sets of a reasoning agent. As such, it is inherently second-order. In this paper, we study the problem of representability of a family of theories as the set of extensions of a default theory. We give a complete solution to the representability by means of normal default theories. We obtain partial results on representability by arbitrary default theories. We construct examples of denumerable families of non-including theories that are not representable. We also study the concept of equivalence between default theories.