High-resolution photoemission spectroscopy (HRPES) was performed on V2
-yO3 (y=0.00, 0.03, and 0.04), which lias been considered as the proto
type of the Mott-Hubbard model for the metal-insulator transition (MIT
). The density of states at the Fermi level (E-F) observed by HRPES is
one order of magnitude smaller than that of the band calculation base
d on the local-density approximation. We observed no distinguishable s
harp structure at E-F for hole-doped V1.96O3 at 15 K as well as neglig
ible temperature-dependence of the HRPES spectrum of V2O3 between 200
and 300 K. The analysis of the V 3d spectrum with a local self-energy
gives a too large quasiparticle effective mass compared to the specifi
c-heat measurement, which implies the importance of spatial fluctuatio
ns near the MIT. All these facts strongly question the applicability o
f the dynamical mean-field theory of the Hubbard model to the V2-yO3 s
ystem.