Polymer blends are critical in many commercial products and industrial processes and their phase behavior is therefore of paramount importance. In most circumstances, such blends are formulated with samples of high dispersity, which have generally only been studied at the mean-field level. Here, we extend the renormalized one-loop theory of concentration fluctuations to account for blends of disperse polymers. Analyzing the short and long length-scale fluctuations in a consistent manner, various measures of polymer molecular weight and dispersity arise naturally in the free energy. Thermodynamic analysis in terms of moments of the molecular weight distribution(s) provides exact results for the inverse susceptibility and demonstrates that the theory is not formally renormalizable. However, physically motivated approximations allow for an "effective" renormalization, yielding (1) an effective interaction parameter, χe, which depends directly on the sample dispersities (i.e., Mw/Mn) and leaves the form of the mean-field spinodal unchanged, and (2) an apparent interaction parameter χa that depends on higher-order dispersity indices, for instance Mz/Mw, and characterizes the true limits of blend stability accounting for long-range off-critical fluctuations. We demonstrate the importance of dispersity on several example systems, including both "toy" models that may be realized in computer simulation and more realistic industrially relevant blends. We find that the effects of long-range fluctuations are particularly prominent in blends where the component dispersities are mismatched, especially when there is a small quantity of the high-dispersity species. This can be understood as a consequence of the shift in the critical concentration(s) from the monodisperse value(s).
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