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A one-dimensional model of interacting electrons with on-site $U$,nearest-neighbor $V$, and pair-hopping interaction $W$ is studied athalf-filling using the continuum limit field theory approach. The ground statephase diagram is obtained for a wide range of coupling constants. In additionto the insulating spin- and charge-density wave phases for large $U$ and $V$,respectively, we identify bond-located ordered phases corresponding to anenhanced Peierls instability in the system for $W<0$, $|U-2V|<|2W|$, and to astaggered magnetization located on bonds between sites for $W>0$, $|U-2V|<W$.The general ground state phase diagram including insulating, metallic, andsuperconducting phases is discussed. A transition to the$\eta_{\pi}$-superconducting phase at $|U-2V| \ll 2t \leq W$ is brieflydiscussed.Comment: 6 pages in revtex format, 2 fig files in ep

Phase diagram of the extended hubbard model with pair hopping interaction