We study three dimensional O(N)_k and U(N)_k Chern-Simons theories coupled to
a scalar field in the fundamental representation, in the large N limit. For
infinite k this is just the singlet sector of the O(N) (U(N)) vector model,
which is conjectured to be dual to Vasiliev's higher spin gravity theory on
AdS_4. For large k and N we obtain a parity-breaking deformation of this
theory, controlled by the 't Hooft coupling lambda = 4 \pi N / k. For infinite
N we argue (and show explicitly at two-loop order) that the theories with
finite lambda are conformally invariant, and also have an exactly marginal
(\phi^2)^3 deformation.
For large but finite N and small 't Hooft coupling lambda, we show that there
is still a line of fixed points parameterized by the 't Hooft coupling lambda.
We show that, at infinite N, the interacting non-parity-invariant theory with
finite lambda has the same spectrum of primary operators as the free theory,
consisting of an infinite tower of conserved higher-spin currents and a scalar
operator with scaling dimension \Delta=1; however, the correlation functions of
these operators do depend on lambda. Our results suggest that there should
exist a family of higher spin gravity theories, parameterized by lambda, and
continuously connected to Vasiliev's theory. For finite N the higher spin
currents are not conserved.Comment: 34 pages, 29 figures. v2: added reference
