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Theory of Charge Order and Heavy-Electron Formation in the Mixed-Valence Compound KNi$_2$Se$_2$

The material KNi$_2$Se$_2$ has recently been shown to possess a number of striking physical properties, many of which are apparently related to the mixed valency of this system, in which there is on average one quasi-localized electron per every two Ni sites. Remarkably, the material exhibits a charge density wave (CDW) phase that disappears upon cooling, giving way to a low-temperature coherent phase characterized by an enhanced electron mass, reduced resistivity, and an enlarged unit cell free of structural distortion. Starting from an extended periodic Anderson model and using the slave-boson formulation, we develop a model for this system and study its properties within mean-field theory. We find a reentrant first-order transition from a CDW phase, in which the localized moments form singlet dimers, to a heavy Fermi liquid phase as temperature is lowered. The magnetic susceptibility is Pauli-like in both the high- and low-temperature regions, illustrating the lack of a single-ion Kondo regime such as that usually found in heavy-fermion materials.