Theory of spin and charge fluctuations in the Hubbard model

A self-consistent theory of both spin and charge fluctuations in the Hubbard model is presented. It is in quantitative agreement with Monte Carlo data at least up to intermediate coupling (U∼8t). It includes both short-wavelength quantum renormalization effects, and long-wavelength thermal fluctuations, which can destroy long-range order in two dimensions. The last effect leads to a small energy scale, as often observed in high-temperature superconductors. The theory is conserving, satisfies the Pauli principle, and includes three-particle correlations necessary to account for the incipient Mott transition.