We study the decay of the unstable D-particle in three-dimensional anti-de Sitter space-time using worldsheet boundary conformal field theory methods. We test the open string completeness conjecture in a background for which the phase space available is only field-theoretic. This could present a serious challenge to the claim. We compute the emission of closed strings in the AdS(3) x S^3 x T^4 background from the knowledge of the exact corresponding boundary state we construct. We show that the energy stored in the brane is mainly converted into very excited long strings. The energy stored in short strings and in open string pair production is much smaller and finite for any value of the string coupling. We find no "missing energy" problem. We compare our results to those obtained for a decay in flat space-time and to a background in the presence of a linear dilaton. Some remarks on holographic aspects of the problem are made.
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