Abstract
It is argued that the low-energy properties of high temperature superconductors are dominated by the interaction between the mobile holes and a particular class of collective modes, corresponding to local large-amplitude low-energy fluctuations in the hole density. The latter are a consequence of the competition between the effects of long-range Coulomb interactions and the tendency of a low concentration of holes in an antiferromagnet to phase separate. The low-energy behavior of the system is governed by the same fixed point as the two-channel Kondo problem, which accounts for the “universality” of the properties of the cuprate superconductors. Predictions of the optical properties and the spin dynamics are compared with experiment. The pairing resonance of the two-channel Kondo problem gives a mechanism of high temperature superconductivity with an uncoventional symmetry of the order parameter.
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