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Calabi-Yau manifold \\(M\\) is a simply connected projective manifold with trivial canonical bundle \\( \\mathcal{K}_{M}\\cong \\mathcal{O}_{M}\\). By Yau theorem (Calabi conjecture) any K\u00e4hler class \\(\\alpha\\in H^{1,1}(M, \\mathbb{R})\\), contains a unique Ricci-flat K\u00e4hler metric with K\u00e4hler form in \\(\\alpha\\). The goal of the paper is to study the behavior of the Ricci-flat metrics under two types of algebro-geometric surgeries, whose definition we now recall.NEWLINENEWLINELet \\(M_{0}\\) be a normal projective variety with singular set \\(S\\). A resolution of \\(M_0\\) is a couple \\((\\bar{M},\\bar{\\pi})\\), where \\(\\bar{M}\\) is a projective manifold and \\(\\bar{\\pi} :\\bar{M} \\rightarrow M_0\\) is a morphism such that \\(\\bar{\\pi}: \\bar{M}\\backslash \\bar{\\pi}^{-1}(S)\\rightarrow M_{0} \\backslash S\\) is biholomorphic. On the other hand, a smoothing of \\(M_0\\) is a couple \\((\\mathcal{M}, \\pi)\\), where \\(\\mathcal{M}\\) is an \\((n+1)\\)-dimensional variety, \\(\\pi\\) is a proper flat morphism of \\(\\mathcal{M}\\) onto the unit disc \\(\\Delta \\subset \\mathbb{C}\\), \\(M_{0}=\\pi^{-1}(0)\\), and \\(M_{t}=\\pi^{-1}(t)\\) is a smooth projective \\(n\\)-dimensional manifold for any \\(t\\in \\Delta\\backslash \\{0\\}\\).NEWLINENEWLINEIf \\(M_{0}\\) admits both a resolution \\( (\\bar{M}, \\bar{\\pi})\\) and a smoothing \\((\\mathcal{M}, \\pi)\\), the process of going from \\(\\bar{M}\\) to \\(M_{t}\\), \\(t\\neq 0\\), is called an extremal transition, denoted by \\(\\bar{M}\\rightarrow M_{0} \\rightsquigarrow M_{t}\\).NEWLINENEWLINEIf \\(M_{0}\\) admits two different resolutions \\( (\\bar{M}_{1}, \\bar{\\pi}_{1})\\) and \\((\\bar{M}_{2}, \\bar{\\pi}_{2})\\) with both exceptional subvarieties of codimension at least 2, the process of going from \\(\\bar{M}_{1}\\) to \\(\\bar{M}_{2}\\) is called a flop, denoted by \\(\\bar{M}_{1} \\rightarrow M_{0} \\dashrightarrow \\bar{M}_{2}\\).NEWLINENEWLINEExtremal transitions and flops are the two kinds of algebro-geometric surgeries studied in the paper. They are of course very interesting in both mathematics and physics. For example, \\textit{M. Reid} [Math. Ann. 278, 329--334 (1987; Zbl 0649.14021)] conjectured that any two Calabi-Yau threefolds are connected by an extremal transition. See [\\textit{M. Rossi}, J. Geom. Phys. 56, No. 9, 1940--1983 (2006; Zbl 1106.32019)] for a survey of extremal transitions in topology, algebraic geometry and physics.NEWLINENEWLINE\\textit{P. Candelas} and \\textit{X. C. de la Ossa} [``Comments on conifolds'', Nuclear Phys. B 342, No. 1, 246--268 (1990)] conjectured that extremal transitions and flops should be ``continuous in the space of Ricci-flat K\u00e4hler metrics'', even though they involve topologically distinct Calabi-Yau manifolds.NEWLINENEWLINEThis conjecture can be stated very efficiently in terms of Gromov-Hausdorff as follows.NEWLINENEWLINE(i) If \\(\\bar{M}\\rightarrow M_{0} \\rightsquigarrow M_{t}\\) is an extremal transition among Calabi-Yau manifolds, then there exists a family of Ricci-flat K\u00e4hler metrics \\(\\bar{g}_{s}\\), \\(s\\in (0,1)\\), on \\(\\bar{M}\\), and a family of Ricci-flat K\u00e4hler metrics \\(\\tilde{g}_{t}\\) on \\(M_{t}\\) such that \\(\\{( \\bar{M}, \\bar{g}_{s})\\}\\) and \\(\\{(M_{t}, \\tilde{g}_{t})\\}\\) converge to a single compact metric space \\((X, d_{X})\\) in the Gromov-Hausdorff topology.NEWLINENEWLINE(ii) If \\(\\bar{M}_{1} \\rightarrow M_{0} \\dashrightarrow \\bar{M}_{2}\\) is a flop between Calabi-Yau manifolds, then there are Ricci-flat K\u00e4hler metrics \\(\\bar{g}_{i,s}\\), \\(s\\in (0,1)\\) on \\(\\bar{M}_{i}\\) (\\(i=1,2\\)) and a compact metric space \\((X, d_{X})\\), such that NEWLINE\\[NEWLINE( \\bar{M}_{1}, \\bar{g}_{1,s}) \\longrightarrow (X, d_{X}) \\longleftarrow ( \\bar{M}_{2}, \\bar{g}_{2,s}), \\quad s\\rightarrow 0. NEWLINE\\]NEWLINE (The convergence is in the sense of Gromov-Hausdorff.) The paper is devoted to the proof of these versions of the conjecture. The following are two main results. (Recall that a Calabi-Yau \\textit{variety} is a simply connected projective normal variety \\(M_{0}\\) with trivial canonical sheaf and only canonical singularities.)NEWLINENEWLINETheorem 1.1. Let \\(M_{0}\\) be a Calabi-Yau \\(n\\)-variety with singular set \\(S\\). Assume that \\(M_{0}\\) admits a smoothing \\(\\pi: \\mathcal{M}\\rightarrow \\Delta\\), such that the relative canonical bundle \\(\\mathcal{K}_{\\mathcal{M}/\\Delta}\\) is trivial and \\( \\mathcal{M}\\) admits an ample line bundle \\(\\mathcal{L}\\). For any \\(t\\in \\Delta\\backslash \\{0\\}\\), let \\(\\tilde{g}_{t}\\) be the unique Ricci-flat K\u00e4hler metric on \\(M_{t}=\\pi^{-1}(t) \\) with K\u00e4hler form \\(\\tilde{\\omega}_{t}\\in c_{1}(\\mathcal{L})|_{M_{t}} \\). Assume that \\(M_{0}\\) admits also a crepant resolution \\((\\bar{M}, \\bar{\\pi})\\). Let \\(\\{\\bar{g}_{s}\\}_{s\\in (0, 1]}\\) be a family of Ricci-flat K\u00e4hler metrics with K\u00e4hler forms \\(\\bar{\\omega}_{s}\\), such that \\(\\lim\\limits_{s\\rightarrow 0}[\\bar{\\omega}_{s}]=\\bar{\\pi}^{*} c_{1}(\\mathcal{L})|_{M_{0}} \\) in \\(H^{1,1}(\\bar{M}, \\mathbb{R} )\\). Then there exists a compact length metric space \\((X, d_{X})\\) such that NEWLINE\\[NEWLINE \\lim_{t\\rightarrow 0}d_{GH}((M_{t}, \\tilde{g}_{t}),(X, d_{X}))= \\lim_{s\\rightarrow 0}d_{GH}((\\bar{M}, \\bar{g}_{s}),(X, d_{X}))=0. NEWLINE\\]NEWLINE Furthermore, \\((X, d_{X})\\) is isometric to the metric completion \\(\\overline{(M_{0}\\backslash S,d_{g})} \\) where \\(g\\) is a Ricci-flat K\u00e4hler metric on \\(M_{0}\\backslash S\\), and \\(d_{g}\\) is Riemannian distance function of \\(g\\).NEWLINENEWLINETheorem 1.2. Let \\(M_{0}\\) be an \\(n\\)-dimensional Calabi-Yau variety with singular set \\(S\\), and let \\(\\mathcal{L}\\) be an ample line bundle on \\(M_0\\). Assume that \\(M_{0}\\) admits two crepant resolutions \\((\\bar{M}_{1}, \\bar{\\pi}_{1})\\) and \\((\\bar{M}_{2}, \\bar{\\pi}_{2})\\). Let \\(\\{\\bar{g}_{\\alpha,s}\\}_{s\\in (0,1]}\\) be a family of Ricci-flat K\u00e4hler metrics on \\(\\bar{M}_{\\alpha} \\) with K\u00e4hler classes \\(\\lim\\limits_{s\\rightarrow 0}[\\bar{\\omega}_{\\alpha,s}]=\\bar{\\pi}_{\\alpha}^{*} c_{1}(\\mathcal{L}) \\), \\(\\alpha=1,2\\). Then there exists a compact length metric space \\((X, d_{X})\\) such that NEWLINE\\[NEWLINE \\lim_{s\\rightarrow 0}d_{GH}((\\bar{M}_{1}, \\bar{g}_{1,s}),(X, d_{X}))= \\lim_{s\\rightarrow 0}d_{GH}((\\bar{M}_{2}, \\bar{g}_{2,s}),(X, d_{X}))=0. 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