AdS/CFT v. s. string loops

The one string-loop correction to the energies of two impurity BMN states are computed using IIB light-cone string field theory with an improved 3-string vertex that has been proposed by Dobashi and Yoneya. As in previous published computations, the string vertices are truncated to the 2-impurity channel. The result is compared with the prediction from non-planar corrections in the BMN limit of N = 4 supersymmetric Yang-Mills theory. It is found to agree at leading order - one-loop in Yang-Mills theory - and is close but not quite in agreement at order two Yang- Mills loops. Furthermore, in addition to the leading 1/2 power in the t'Hooft coupling, which is generic in string field theory, and which we have previously argued cancels, we find that the 3/2 and 5/2 powers are also miraculously absent.