Renormalization group and effective potential: a simple non-perturbative approach

Abstract: We develop a simple non-perturbative approach to the calculation of a field theory effective potential that is based on the Wilson or exact renormalization group. Our approach follows Shepard et al's idea [Phys. Rev. D51, 7017 (1995)] of converting the exact renormalization group into a self-consistent renormalization method. It yields a simple second order differential equation for the effective potential. The equation can be solved and its solution is compared with other non-perturbative results and with results of perturbation theory. In three dimensions, we are led to study the sextic field theory ($\lambda\phi^4+g\phi^6$). We work out this theory at two-loop perturbative order and find the non-perturbative approach to be superior.