Abstract
We investigate the correspondence between existence/stability of BPS states in type II string theory compactified on a Calabi-Yau manifold and BPS solutions of four dimensional N=2 supergravity. Some paradoxes emerge, and we propose a resolution by considering composite configurations. This in turn gives a smooth effective field theory description of decay at marginal stability. We also discuss the connection with 3-pronged strings, the Joyce transition of special Lagrangian submanifolds, and Pi-stability.
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