Abstract
We introduce the first multiorbital effective tight-binding model to describe the effect of electron-electron interactions in this system. Upon fixing all the effective hopping parameters in the normal state against an abinitio band structure, and with only the overall scale of the interactions as the sole adjustable parameter, we find that a self-consistent Hartree-Fock solution reproduces extremely well the experimental behavior of the charge density wave (CDW) order parameter in the full range 0<T<T_{c}, as well as the precise reciprocal space locations of the partial gap opening and Fermi arc development. The interaction strengths extracted from fitting to the experimental CDW gap are consistent with those derived from an independent Stoner-type analysis.
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