Abstract
The Hubbard model for the Cu4O4 cluster was solved analytically in order to clarify the interrelationships between molecular orbital (MO)- and valence-bond (VB)-type solutions. Both VB and MO models were complementarily applied to investigations of Néel order, spin fluctuation and magnetic excitations for copper oxides belonging to the intermediate correlation regime. Our previous J-model (Jpn. J. Appl. Phys. 26 (1987) L1362) for high-T c superconductivity seems compatible with the spin fluctuations observed recently.