Statistical Mechanics of Black Holes

We analyze the statistical mechanics of a gas of neutral and charged black holes. The microcanonical ensemble is the only possible approach to this system, and the equilibrium configuration is the one for which most of the energy is carried by a single black hole. Schwarzschild black holes are found to obey the statistical bootstrap condition. In all cases, the microcanonical temperature is identical to the Hawking temperature of the most massive black hole in the gas. U(1) charges in general break the bootstrap property. The problems of black hole decay and of quantum coherence are also addressed.