Abstract
We construct and study a matrix model that describes two-dimensional string theory in the Euclidean black hole background. A conjecture of V. Fateev, A. Zamolodchikov and Al. Zamolodchikov, relating the black hole background to condensation of vortices (winding modes around Euclidean time) plays an important role in the construction. We use the matrix model to study quantum corrections to the thermodynamics of two-dimensional black holes.
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