Abstract
Different scenarios of the implementation of the two-band model in strongly correlated electrons systems, including frustrated magnets, high-temperature superconductors, and Kondo lattices, are considered. The interaction of current carriers with magnetic moments in the representations of pseudofermions or Schwinger bosons describing the spinon excitations is studied on the basis of the derived Hamiltonians of the $s-d$ exchange and $t-J$ models within the formalism of many-electron Hubbard operators.
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