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We conjecture that, in certain cases, quantum dynamics is consistent in the presence of closed timelike curves. We consider time dependent orbifolds of three dimensional Minkowski space describing, in the limit of large AdS radius, BTZ black holes inside the horizon. Although perturbative unitarity fails, we show that, for discrete values of the gravitational coupling, particle propagation is consistent with unitarity. This quantization corresponds to the quantization of the black hole angular momentum. We perform the computation at very low energies, where string effects are irrelevant and interactions are dominated by graviton exchange in the eikonal regime.

In the standard cosmological models, a space-like big-bang singularity is present in the past. The existence of an initial singularity is, to a large extent, independent of the model, and in fact one can show that, under general assumptions, a singularity in the cosmological past is inevitable (Hawking and Ellis, 1973). Despite these problems, the standard cosmological models (far) below the Planck scale are extremely successful in explaining the present experimental data. Attempts to solve the cosmological singularity problem lead to the pre big-bang scenario conjecture (G. Veneziano), motivated by the existence of a minimum distance in string theory. However, either the exact string backgrounds are not realistic (Kiritsis and Kounnas), or they show time-like singularities whose nature has remained unclear (Kounnas and Lust, 1992; Grojean et al., 2001).

We propose a new cosmological scenario which resolves the conventional initial singularity problem. The space-time geometry has an unconventional time-like singularity on a lower dimensional hypersurface, with localized energy density. The natural interpretation of this singularity in string theory is that of negative tension branes, for example the orientifolds of type II string theory. Space-time ends at the orientifolds, and it is divided in three regions: a contracting region with a future cosmological horizon; an intermediate region which ends at the orientifols; and an expanding region separated from the intermediate region by a past cosmological horizon. We study the geometry near the singularity of the proposed cosmological scenario in a specific string model. Using D-brane probes we confirm the interpretation of the brane singularity as an orientifold. The boundary conditions on the orientifolds and the past/future transition amplitudes are well defined. Assuming the trivial vacuum in the past, we derive a thermal spectrum in the future., Comment: 1+20 pages, 3 figures; Analogy between orientifolds and de Sitter space in Introduction corrected, refs added

We consider the problem of option pricing and hedging when stock returns are correlated in time. Within a quadratic-risk minimisation scheme, we obtain a general formula, valid for weakly correlated non-Gaussian processes. We show that for Gaussian price increments, the correlations are irrelevant, and the Black-Scholes formula holds with the volatility of the price increments on the scale of the re-hedging. For non-Gaussian processes, further non trivial corrections to the `smile' are brought about by the correlations, even when the hedge is the Black-Scholes Delta-hedge. We introduce a compact notation which eases the computations and could be of use to deal with more complicated models., Comment: LaTeX, 15 pp, no figure

Value adjustment of uncollateralized trades is determined within a risk-neutral pricing framework. When hedging such trades, investors cannot freely trade protection on their own name, thus facing an incomplete market. This fact is reflected in the non-uniqueness of the pricing measure, which is only constrained by the values of the hedging instruments tradable by the investor. Uncollateralized trades should then be considered not as derivatives but as new primary assets in the investor's economy. Different choices of the risk-neutral measure correspond to different completions of the market, based on the risk appetite of the investor, leading to different levels of value adjustments. We recover, in limiting cases, results well known in the literature., Comment: 11 pages

We discuss the problem of tachyon condensation in the framework of background independent open string field theory. We show, in particular, that the computation of the string field theory action simplifies considerably if one looks at closed string backgrounds with a large B field, and can be carried out exactly for a generic tachyon profile. We confirm previous results on the form of the exact tachyon potential, and we find, within this framework, solitonic solutions which correspond to lower dimensional unstable branes., 10 pages, some references added and minor imprecisions corrected

We show, with a 2-dimensional example, that the low energy effective action which describes the physics of a single D-brane is compatible with T-duality whenever the corresponding U(N) non-abelian action is form-invariant under the non-commutative Seiberg-Witten transformations., Comment: Contributions to the conference BRANE NEW WORLD and Noncommutative Geometry, Torino, (Italy) Oct., 2000

We discuss the physics of a single Dp-brane in the presence of a background electromagnetic field B_{ij}. It has recently been shown \cite{SW} that, in a specific \alpha ' \to 0 limit, the physics of the brane is correctly described by noncommutative Yang-Mills theory, where the noncommutative gauge potential is given explicitly in terms of the ordinary U(1) field. In a previous paper \cite{SC} the physics of a D2-brane was analyzed in the Sen-Seiberg limit of M(atrix) theory by considering a specific coordinate change on the brane world-volume. We show in this note that the limit considered in \cite{SC} is the same as the one described in \cite{SW}, in the specific case p=2, rk B_{ij} = 2. Moreover we show that the coordinate change in \cite{SC} can be reinterpreted, in the spirit of \cite{SW}, as a field redefinition of the ordinary Yang-Mills field, and we prove that the transformations agree for large backgrounds. The results are finally used to considerably streamline the proof of the equivalence of the standard Born-Infeld action with noncommutative Yang-Mills theory, in the large wave-length regime.

We discuss the general structure of the non-abelian Born-Infeld action, together with all of the alpha-prime derivative corrections, in flat D-dimensional space-time. More specifically, we show how the connection between open strings propagating in background magnetic fields and gauge theories on non-commutative spaces can be used to constrain the form of the effective action for the massless modes of open strings at week coupling. In particular, we exploit the invariance in form of the effective action under a change of non-commutativity scale of space-time to derive algebraic equations relating the various terms in the alpha- prime expansion. Moreover, we explicitly solve these equations in the simple case D=2, and we show, in particular, how to construct the minimal invariant derivative extension of the NBI action.

We conjecture that the Sen-Seiberg limit of the Type IIA D2-brane action in a flat spacetime background can be resummed, at all orders in \alpha', to define an associative star product on the membrane. This star product can be independently constrained from the equivalent Matrix theory description of the corresponding M2-brane, by carefully analyzing the known BPS conditions. Higher derivative corrections to the Born-Infeld action on the IIA side are reinterpreted, after the Sen-Seiberg limit, as higher derivative corrections to a field theory on the membrane, which itself can be resummed to yield the known Matrix theory quantum mechanics action. Conversely, given the star product on the membrane as a formal power series in \alpha', one can constrain the higher derivative corrections to the Born-Infeld action, in the Sen-Seiberg limit. This claim is explicitly verified to first order. Finally, we also comment on the possible application of this method to the derivation of the Matrix theory action for membranes in a curved background.

Using the approximate conformal invariance of QCD at high energies we consider a simple anti-de Sitter black disk model to describe saturation in deep inelastic scattering. Deep inside saturation the structure functions have the same power law scaling, F{sub T}{approx}F{sub L}{approx}x{sup -{omega}}, where {omega} is related to the expansion rate of the black disk with energy. Furthermore, the ratio F{sub L}/F{sub T} is given by the universal value (1+{omega}/3+{omega}), independently of the target. For {gamma}*-{gamma}* scattering at high energies we obtain explicit expressions and ratios for the total cross sections of transverse and longitudinal photons in terms of the single parameter {omega}.

We analyze deep inelastic scattering at small Bjorken $x$, using the approximate conformal invariance of QCD at high energies. Hard Pomeron exchanges are resummed eikonally, restoring unitarity at large values of the phase shift in the dual anti-de Sitter (AdS) geometry. At weak coupling this phase is imaginary, corresponding to a black disk in AdS space. In this saturated regime, cross sections exhibit geometric scaling and have a simple universal form, which we test against available experimental data for the proton structure function ${F}_{2}(x,{Q}^{2})$. We predict, in particular, the dependence of the cross section on the scaling variable $(Q/{Q}_{\mathrm{s}}{)}^{2}$ in the deeply saturated region, where ${Q}_{\mathrm{s}}$ is the usual saturation scale. We find agreement with current data on ${F}_{2}$ in the kinematical region $0.5l{Q}^{2}l10\text{ }\text{ }{\mathrm{GeV}}^{2}$, $xl{10}^{\ensuremath{-}2}$, with an average 6% accuracy. We conclude by discussing the relation of our approach with the commonly used dipole formalism.

We identify a class of 2+1 dimensional models, involving multiple Chern-Simons gauge fields, in which a form of classical confinement occurs. This confinement is not cumulative, but allows finite mass combinations of individually confined objects, as in baryons. The occurrence and nature of the phenomena depends on number theoretic properties of the couplings and charges., Comment: Simplified Equation 13, Corrected Ref. 1, Phyzzx, 8 Pages

We conjecture that, in certain cases, quantum dynamics is consistent in the presence of closed timelike curves. We consider time dependent orbifolds of three dimensional Minkowski space describing, in the limit of large AdS radius, BTZ black holes inside the horizon. Although perturbative unitarity fails, we show that, for discrete values of the gravitational coupling, particle propagation is consistent with unitarity. This quantization corresponds to the quantization of the black hole angular momentum, as expected from the dual CFT description. Note, however, that we recover this result by analyzing the physics inside the horizon and near the singularity. The spacetime under consideration has no AdS boundary, and we are therefore not using any assumption regarding a possible dual formulation. We perform the computation at very low energies, where string effects are irrelevant and interactions are dominated by graviton exchange in the eikonal regime. We probe the non-causal structure of space-time to leading order, but work to all orders in the gravitational coupling., 43 pages, 13 figures. Minor changes for journal submission. One added figure

We initiate a programme to compute curvature corrections to the nonabelian BI action. This is based on the calculation of derivative corrections to the abelian BI action, describing a maximal brane, to all orders in F. An exact calculation in F allows us to apply the SW map, reducing the maximal abelian point of view to a minimal nonabelian point of view (replacing 1/F with [X,X] at large F), resulting in matrix model equations of motion. We first study derivative corrections to the abelian BI action and compute the 2-loop beta function for an open string in a WZW (parallelizable) background. This beta function is the first step in the process of computing string equations of motion, which can be later obtained by computing the Weyl anomaly coefficients or the partition function. The beta function is exact in F and computed to orders O(H,H^2,H^3) (H=dB and curvature is R ~ H^2) and O(DF,D^2F,D^3F). In order to carry out this calculation we develop a new regularization method for 2-loop graphs. We then relate perturbative results for abelian and nonabelian BI actions, by showing how abelian derivative corrections yield nonabelian commutator corrections, at large F. We begin the construction of a matrix model describing \a' corrections to Myers' dielectric effect. This construction is carried out by setting up a perturbative classification of the relevant nonabelian tensor structures, which can be considerably narrowed down by the constraint of translation invariance in the action and the possibility for generic field redefinitions. The final matrix action is not uniquely determined and depends upon two free parameters. These parameters could be computed via further calculations in the abelian theory., Comment: JHEP3.cls, 64 pages, 3 figures; v2: added references; v3: more references, final version for NPB

We analyze the classical stability of string cosmologies driven by the dynamics of orientifold planes. These models are related to time-dependent orbifolds, and resolve the orbifold singularities which are otherwise problematic by introducing orientifold planes. In particular, we show that the instability discussed by Horowitz and Polchinski for pure orbifold models is resolved by the presence of the orientifolds. Moreover, we discuss the issue of stability of the cosmological Cauchy horizon, and we show that it is stable to small perturbations due to in-falling matter., Comment: 40 pages, 13 figures. Reference and conclusion added. Published version

We consider new cosmological solutions with a collapsing, an intermediate and an expanding phase. The boundary between the expanding (collapsing) phase and the intermediate phase is seen by comoving observers as a cosmological past (future) horizon. The solutions are naturally embedded in string and M-theory. In the particular case of a two-dimensional cosmology, space-time is flat with an identification under boost and translation transformations. We consider the corresponding string theory orbifold and calculate the modular invariant one-loop partition function. In this case there is a strong parallel with the BTZ black hole. The higher dimensional cosmologies have a time-like curvature singularity in the intermediate region. In some cases the string coupling can be made small throughout all of space-time but string corrections become important at the singularity. This happens where string winding modes become light which could resolve the singularity. The new proposed space-time casual structure could have implications for cosmology, independently of string theory., 28 pages, 3 figures; v2: Added new subsection relating two-dimensional model to BTZ black hole, typos corrected and references added; v3: minor corrections, PRD version

We study the physics of D-branes in the presence of constant Ramond-Ramond potentials. In the string field theory context, we first develop a general formalism to analyze open strings in gauge trivial closed string backgrounds, and then apply it both to the RNS string and within Berkovits' covariant formalism, where the results have the most natural interpretation. The most remarkable finding is that, in the presence of a Dp-brane, both a constant parallel NS-NS B-field and R-R C^(p-1)-field do not solve the open/closed equations of motion, and induce the same non-vanishing open string tadpole. After solving the open string equations in the presence of this tadpole, and after gauging away the closed string fields, one is left with a U(1) field strength on the brane given by F=(1/2)(B-*C^(p-1)), where * is Hodge duality along the brane world-volume. One observes that this result differs from the usually assumed result F=B. Technically, this is due to the fact that supersymmetric and bosonic string world-sheet theories are different. Note, however, that the usual F+B combination is still the combination which remains gauge invariant at the sigma-model level. Also, the standard result F=B is, in the D3-brane case, not compatible with S-duality. On the other hand our result, which is derived automatically given the general formalism, offers a non-trivial check of S-duality, to all orders in F, and this leads to a S-dual invariant Moyal deformation. In an appendix, we solve the source equation describing the open superstring in a generic NS-NS and R-R closed string background, within the super Poincare covariant formalism., Comment: 42 pages, 1 figure, JHEP3.cls; v2: S-duality section needs corrections; v3: S-duality section corrected, analytical results unchanged, physical interpretation re-written, added references; v4: minor changes; v5: added paragraph on bosonic string example, final version for ATMP

We investigate the deformation of D-brane world-volumes in curved backgrounds. We calculate the leading corrections to the boundary conformal field theory involving the background fields, and in particular we study the correlation functions of the resulting system. This allows us to obtain the world-volume deformation, identifying the open string metric and the noncommutative deformation parameter. The picture that unfolds is the following: when the gauge invariant combination \omega = B + F is constant one obtains the standard Moyal deformation of the brane world-volume. Similarly, when d\omega = 0 one obtains the noncommutative Kontsevich deformation, physically corresponding to a curved brane in a flat background. When the background is curved, H = d\omega \not= 0, we find that the relevant algebraic structure is still based on the Kontsevich expansion, which now defines a nonassociative star product with an A_\infty homotopy associative algebraic structure. We then recover, within this formalism, some known results of Matrix theory in curved backgrounds. In particular, we show how the effective action obtained in this framework describes, as expected, the dielectric effect of D-branes. The polarized branes are interpreted as a soliton, associated to the condensation of the brane gauge field., Comment: Latex, 50 pages; v2: added 2 references and corrected typos; v3: new section on the homotopy associative algebraic structure, final version for CMP

We consider the generalization to String and M-theory of the Melvin solution. These are flux p-branes which have (p+1)-dimensional Poincare invariance and are associated to an electric (p+1)-form field strength along their worldvolume. When a stack of Dp-branes is placed along the worldvolume of a flux (p+3)-brane it will expand to a spherical D(p+2)-brane due to the dielectric effect. This provides a new setup to consider the gauge theory/gravity duality. Compactifying M-theory on a circle we find the exact gravity solution of the type IIA theory describing the dielectric expansion of N D4-branes into a spherical bound state of D4-D6-branes, due to the presence of a flux 7-brane. In the decoupling limit, the deformation of the dual field theory associated with the presence of the flux brane is irrelevant in the UV. We calculate the gravitational radius and energy of the dielectric brane which give, respectively, a prediction for the VEV of scalars and vacuum energy of the dual field theory. Consideration of a spherical D6-brane probe with n units of D4-brane charge in the dielectric brane geometry suggests that the dual theory arises as the Scherk-Schwarz reduction of the M5-branes (2,0) conformal field theory. The probe potential has one minimum placed at the locus of the bulk dielectric brane and another associated to an inner dielectric brane shell., Comment: v2 Major Additions: dielectric radius in gravity solution matches exactly stable and unstable points of Myers probe potential, as well as the upper bound on D-brane charge. New section probing dielectric brane that clarifies dual field theory discussion and is consistent with Scherk-Schwarz reduction of (2,0) M5-brane theory. References added. 43 pages, 4 figures

In a recent paper Seiberg and Witten have argued that the full action describing the dynamics of coincident branes in the weak coupling regime is invariant under a specific field redefinition, which replaces the group of ordinary gauge transformations with the one of noncommutative gauge theory. This paper represents a first step towards the classification of invariant actions, in the simpler setting of the abelian single brane theory. In particular we consider a simplified model, in which the group of noncommutative gauge transformations is replaced with the group of symplectic diffeomorphisms of the brane world volume. We carefully define what we mean, in this context, by invariant actions, and rederive the known invariance of the Born-Infeld volume form. With the aid of a simple algebraic tool, which is a generalization of the Poisson bracket on the brane world volume, we are then able to describe invariant actions with an arbitrary number of derivatives., Comment: 16 pages

We give evidence in favour of a string/black hole transition in the case of BPS fundamental string states of the Heterotic string. Our analysis goes beyond the counting of degrees of freedom and considers the evolution of dynamical quantities in the process. As the coupling increases, the string states decrease their size up to the string scale when a small black hole is formed. We compute the absorption cross section for several fields in both the black hole and the perturbative string phases. At zero frequency, these cross sections can be seen as order parameters for the transition. In particular, for the scalars fixed at the horizon the cross section evolves to zero when the black hole is formed.

Membranes holomorphically embedded in flat noncompact space are constructed in terms of the degrees of freedom of an infinite collection of 0-branes. To each holomorphic curve we associate infinite-dimensional matrices which are static solutions to the matrix theory equations of motion, and which can be interpreted as the matrix theory representation of the holomorphically embedded membrane. The problem of finding such matrix representations can be phrased as a problem in geometric quantization, where epsilon -> l_P^3/R plays the role of the Planck constant and parametrizes families of solutions. The concept of Bergman projection is used as a basic tool, and a local expansion for the action of the projection in inverse powers of curvature is derived. This expansion is then used to compute the required matrices perturbatively in epsilon. The first two terms in the expansion correspond to the standard geometric quantization result and to the result obtained using the metaplectic correction to geometric quantization., 41 pages, LaTeX

The long-range fields associated with non-abelian vortices generally obstruct full realization, in the spectrum, of the symmetry of the ground state. In the context of 2+1 dimensional field theories, we show how this effect manifests itself concretely in altered conditions for the angular momentum and in the energy spectrum. A particularly interesting case is supersymmetry, which is obstructed by the gravitational effect of any mass., Phyzzx, 11 Pages, No Figures

We derive an eikonal approximation to high energy interactions in Anti-de Sitter spacetime, by generalizing a position space derivation of the eikonal amplitude in flat space. We are able to resum, in terms of a generalized phase shift, ladder and cross ladder graphs associated to the exchange of a spin j field, to all orders in the coupling constant. Using the AdS/CFT correspondence, the resulting amplitude determines the behavior of the dual conformal field theory four-point function for small values of the cross ratios, in a Lorentzian regime. Finally we show that the phase shift is dominated by graviton exchange and computes, in the dual CFT, the anomalous dimension of the double trace primary operators O-1 partial derivative...partial derivative O-2 of large dimension and spin, corresponding to the relative motion of the two interacting particles. The results are valid at strong t'Hooft coupling and are exact in the 1/N expansion.

We give evidence in favour of a string/black hole transition in the case of BPS fundamental string states of the Heterotic string. Our analysis goes beyond the counting of degrees of freedom and considers the evolution of dynamical quantities in the process. As the coupling increases, the string states decrease their size up to the string scale when a small black hole is formed. We compute the absorption cross section for several fields in both the black hole and the perturbative string phases. At zero frequency, these cross sections can be seen as order parameters for the transition. In particular, for the scalars fixed at the horizon the cross section evolves to zero when the black hole is formed., Comment: 36 pages, 4 figures, argument about minimally coupled scalar absorption cross section clarified

Using the approximate conformal invariance of QCD at high energies we consider a simple AdS black disk model to describe saturation in DIS. Deep inside saturation the structure functions have the same power law scaling, F_T ~ F_L ~ 1/x^w, where w is related to the expansion rate of the black disk with energy. Furthermore, the ratio F_L /F_T is given by the universal value (1+w)/(3+w), independently of the target. For virtual photon-photon scattering at high energies we obtain explicit expressions and ratios for the total cross sections of transverse and longitudinal photons in terms of the single parameter w., 5 pages. Minor corrections

We introduce the impact-parameter representation for conformal field theory correlators of the form A ~ < O_1 O_2 O_1 O_2 >. This representation is appropriate in the eikonal kinematical regime, and approximates the conformal partial-wave decomposition in the limit of large spin and dimension of the exchanged primary. Using recent results on the two-point function < O_1 O_1 >_{shock} in the presence of a shock wave in Anti-de Sitter, and its relation to the discontinuity of the four-point amplitude A across a kinematical branch-cut, we find the high spin and dimension conformal partial- wave decomposition of all tree-level Anti-de Sitter Witten diagrams. We show that, as in flat space, the eikonal kinematical regime is dominated by the T-channel exchange of the massless particle with highest spin (graviton dominance). We also compute the anomalous dimensions of the high-spin O_1 O_2 composites. Finally, we conjecture a formula re-summing crossed-ladder Witten diagrams to all orders in the gravitational coupling., JHEP3.cls, 27 pages, 8 figures

We initiate a program to generalize the standard eikonal approximation to compute amplitudes in Anti-de Sitter spacetimes. Inspired by the shock wave derivation of the eikonal amplitude in flat space, we study the two-point function E ~ < O_1 O_1 >_{shock} in the presence of a shock wave in Anti-de Sitter, where O_1 is a scalar primary operator in the dual conformal field theory. At tree level in the gravitational coupling, we relate the shock two-point function E to the discontinuity across a kinematical branch cut of the conformal field theory four-point function A ~ < O_1 O_2 O_1 O_2 >, where O_2 creates the shock geometry in Anti-de Sitter. Finally, we extend the above results by computing E in the presence of shock waves along the horizon of Schwarzschild BTZ black holes. This work gives new tools for the study of Planckian physics in Anti-de Sitter spacetimes., JHEP3.cls, 34 pages, 10 figures; v2: added paragraph, footnote + reference, minor changes

We consider correlators of N=4 super Yang Mills of the form A ~ < O_1 O_2 O*_1 O*_2 >, where the operators O_1 and O_2 are scalar primaries. In particular, we analyze this correlator in the planar limit and in a Lorentzian regime corresponding to high energy interactions in AdS. The planar amplitude is dominated by a Regge pole whose nature varies as a function of the 't Hooft coupling g^2. At large g, the pole corresponds to graviton exchange in AdS, whereas at weak g, the pole is that of the hard perturbative BFKL pomeron. We concentrate on the weak coupling regime and analyze pomeron exchange directly in position space. The analysis relies heavily on the conformal symmetry of the transverse space E^2 and of its holographic dual hyperbolic space H_3, describing with an unified language, both the weak and strong 't Hooft coupling regimes. In particular, the form of the impact factors is highly constrained in position space by conformal invariance. Finally, the analysis suggests a possible AdS eikonal resummation of multi-pomeron exchanges implementing AdS unitarity, which differs from the usual 4-dimensional eikonal exponentiation. Relations to violations of 4-dimensional unitarity at high energy and to the onset of nonlinear effects and gluon saturation become immediate questions for future research., 42 pages, 13 figures

We consider the Regge limit of a CFT correlation function of two vector and two scalar operators, as appropriate to study small-x deep inelastic scattering in N=4 SYM or in QCD assuming approximate conformal symmetry. After clarifying the nature of the Regge limit for a CFT correlator, we use its conformal partial wave expansion to obtain an impact parameter representation encoding the exchange of a spin j Reggeon for any value of the coupling constant. The CFT impact parameter space is the three-dimensional hyperbolic space H3, which is the impact parameter space for high energy scattering in the dual AdS space. We determine the small-x structure functions associated to the exchange of a Reggeon. We discuss unitarization from the point of view of scattering in AdS and comment on the validity of the eikonal approximation. We then focus on the weak coupling limit of the theory where the amplitude is dominated by the exchange of the BFKL pomeron. Conformal invariance fixes the form of the vector impact factor and its decomposition in transverse spin 0 and spin 2 components. Our formalism reproduces exactly the general results predict by the Regge theory, both for a scalar target and for gamma*-gamma* scattering. We compute current impact factors for the specific examples of N=4 SYM and QCD, obtaining very simple results. In the case of the R-current of N=4 SYM, we show that the transverse spin 2 component vanishes. We conjecture that the impact factors of all chiral primary operators of N=4 SYM only have components with 0 transverse spin., Comment: 44+16 pages, 7 figures. Some corrections