Abstract
A realistic modeling of manganites should include the Coulomb repulsion between $e_g$ electrons, the Hund's rule coupling to $t_{2g}$ spins, and Jahn-Teller phonons. Solving such a model by dynamical mean field theory, we report large magnetoresistances and spectra in good agreement with experiments. The physics of the unusual, insulating-like paramagnetic phase is determined by correlated electrons which are-due to strong correlations-easily trapped as Jahn-Teller polarons.
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