Given a real arrangement $A$, the complement $M(A)$ of the complexification of $A$ admits an action of $\mathbb{ Z}_2$ by complex conjugation. We define the equivariant Orlik-Solomon algebra of $A$ to be the $\mathbb{ Z}_2$-equivariant cohomology ring of $M(A)$ with coefficients in $\mathbb{ Z}_2$. We give a combinatorial presentation of this ring, and interpret it as a deformation of the ordinary Orlik-Solomon algebra into the Varchenko-Gel'fand ring of locally constant $\mattbb{ Z}_2$-valued functions on the complement $C(A)$ of $A$ in $\mathbb{ R}^n$. We also show that the $\mathbb{ Z}_2$-equivariant homotopy type of $M(A)$ is determined by the oriented matroid of $A$. As an application, we give two examples of pairs of arrangements $A$ and $A'$ such that $M(A)$ and $M(A')$ have the same nonequivariant homotopy type, but are distinguished by the equivariant Orlik-Solomon algebra.
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