We examine the region of validity of Langer's picture of homogeneous
nucleation. Our approach is based on a coarse-grained free energy that
incorporates the effect of fluctuations with momenta above a scale k. The
nucleation rate I = A_k exp(-S_k) is exponentially suppressed by the action S_k
of the saddle-point configuration that dominates tunnelling. The factor A_k
includes a fluctuation determinant around this saddle point. Both S_k and A_k
depend on the choice of k, but, for 1/k close to the characteristic length
scale of the saddle point, this dependence cancels in the expression for the
nucleation rate. For very weak first-order phase transitions or in the vicinity
of the spinodal decomposition line, the pre-exponential factor A_k compensates
the exponential suppression exp(-S_k). In these regions the standard nucleation
picture breaks down. We give an approximate expression for A_k in terms of the
saddle-point profile, which can be used for quantitative estimates and
practical tests of the validity of homogeneous nucleation theory.Comment: 8 pages, 4 figures. v2: Final version with extended discussio