Abstract
We study gravitational collapse of the axion/dilaton field in classical low energy string theory, at the threshold for black hole formation. A new critical solution is derived that is spherically symmetric and continuously self-similar. The universal scaling and echoing behavior discovered by Choptuik in gravitational collapse appear in a somewhat different form. In particular, echoing takes the form of SL(2,R) rotations (cf. S-duality). The collapse leaves behind an outgoing pulse of axion/dilaton radiation, with nearly but not exactly flat spacetime within it.
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