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Localization approach to N N = 2 superconformal SU(N) × SU(N) quiver theory leads to a non-Gaussian two-matrix model representation for the expectation value of BPS circular SU(N) Wilson loop W W . We study the subleading 1/N2 term in the large N expansion of W W at weak and strong coupling. We concentrate on the case of the symmetric quiver with equal gauge couplings which is equivalent to the ℤ2 orbifold of the SU(2N) N N = 4 SYM theory. This orbifold gauge theory should be dual to type IIB superstring in AdS5 × (S5/ℤ2). We present a string theory argument suggesting that the 1/N2 term in W W in the orbifold theory should have the same strong-coupling asymptotics λ3/2 as in the N N = 4 SYM case. We support this prediction on the gauge theory side by a numerical study of the localization matrix model. We also find a relation between the 1/N2 term in the Wilson loop expectation value and the derivative of the free energy of the orbifold gauge theory on 4-sphere.
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