Abstract
We propose a nonperturbative definition of two-dimensional quantum gravity, based on a double-scaling limit of the random-matrix model. We derive an exact differential equation for the partition function of two-dimensional gravity coupled to conformal matter as a function of the string coupling constant that governs the genus expansion of two-dimensional surfaces, and discuss its properties and consequences. We also construct and discuss the correlation functions of an infinite set of local operators for spherical topology.
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