Limits of log canonical thresholds

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Let T_n denote the set of log canonical thresholds of pairs (X,Y), with X a nonsingular variety of dimension n, and Y a nonempty closed subscheme of X. Using non-standard methods, we show that every limit of a decreasing sequence in T_n lies in T_{n-1}, proving in this setting a conjecture of Kollár. We also show that T_n is a closed subset in the set of real numbers; in particular, every limit of log canonical thresholds on smooth varieties of fixed dimension is a rational number. As a consequence of this property, we see that in order to check Shokurov's ACC Conjecture for all T_n, it is enough to show that 1 is not a point of accumulation from below of any T_n. In a different direction, we interpret the ACC Conjecture as a semi-continuity property for log canonical thresholds of formal power series.
26 pages; revised version, to appear in Ann. Sci. Ecole Norm. Sup

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