We examine the region of validity of Langer's picture of homogeneous nuclea
tion. Our approach is based on a coarse-grained free energy that incorporat
es 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) incl
udes 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 th
e nucleation rate. For very weak first-order phase transitions or in the vi
cinity of the spinodal decomposition line, the pre-exponential factor A(k)
compensates the exponential suppression exp(-S-k). In these regions the sta
ndard nucleation picture breaks down. We give an approximate expression for
A(k) in terms of the saddle-point profile, which can be used for quantitat
ive estimates and practical tests of the validity of homogeneous nucleation
theory, (C) 1999 Elsevier Science B.V. All rights reserved.