1/2-BPS Correlators as c=1 S-matrix
  We argue from two complementary viewpoints of Holography that the 2-point correlation functions of 1/2-BPS multi-trace operators in the large-N (planar) limit are nothing but the (Wick-rotated) S-matrix elements of c=1 matrix model. On the bulk side, we consider an Euclideanized version of the so-called bubbling geometries and show that the corresponding droplets reach the conformal boundary. Then the scattering matrix of fluctuations of the droplets gives directly the two-point correlators through the GKPW prescription. On the Yang-Mills side, we show that the two-point correlators of holomorphic and anti-holomorphic operators are essentially equivalent with the transformation functions between asymptotic in- and out-states of c=1 matrix model. Extension to non-planar case is also discussed. 
Antal Jevicki and Tamiaki Yoneya