D-branes and Near Extremal Black Holes at Low Energies
Juan Maldacena

TL;DR
This paper argues that D-branes provide the correct low-energy quantum gravity description of near extremal black holes, capturing their entropy and Hawking radiation, and suggesting no information loss at these energies.
Contribution
It demonstrates that the D-brane framework accurately describes the quantum properties of near extremal black holes at low energies using a non-renormalization theorem.
Findings
D-brane description matches black hole entropy.
Hawking radiation is accounted for in the D-brane model.
The approach suggests unitarity and no information loss at low energies.
Abstract
It has been observed recently that many properties of some near extremal black holes can be described in terms of bound states of D-branes. Using a non-renormalization theorem we argue that the D-brane description is the correct quantum gravity description of the black hole at low energies. The low energy theory includes the black hole degrees of freedom that account for the entropy and describes also Hawking radiation. The description is unitary and there seems to be no information loss at low energies.
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