Abstract
We explore the errors in the free energy and in operator expectation values when the quantum operator eβH=l=1L e(Δτ)H is approximated by l=1Lf, where Δτ=β/L and f is an approximant to e(Δτ)H. We determine analytically the dependence of the resulting errors on Δτ for Δτ small, on β for β large, and on the size of the system in the limit of a large system. We focus on Trotter approximations, as well as on the expansion of e(Δτ)H in powers of (Δτ)H. Our results are particularly relevant to Monte Carlo studies of quantum systems, and can be used effectively to eliminate the error due to Trotter-like approximations and to provide a guide for choosing a particular type of approximation.