Reduction of internal degrees of freedom in the large N limit in matrix models

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In this paper the large $N$ limit of one hermitian matrix models coupled to an external matrix is considered. It is shown that in the large N limit the number of degrees of freedom are reduced to be order N even though it is order $N^{2}$ for finite N. It is claimed that this result is the origin of the factorization of observables in the path integral formalism.
26 pages, Latex, no figures. Several changes in the calculations but the conclusions remain the same

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