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Two-particle (2-p) excitations such as spin and charge excitations play a keyrole in high-Tc cuprate superconductors (HTSC). On the basis of aparameter-free theory, which extends the Variational Cluster Approach (arecently developed embedded cluster method) to 2-p excitations, the magneticexcitations of HTSC are shown to be reproduced for a Hubbard model within therelevant strong-coupling regime. In particular, the resonance mode in theunderdoped regime, its intensity and "hour-glass" dispersion are in goodoverall agreement with experiments.

Theory of two-particle excitations and the magnetic susceptibility in high-Tc cuprate superconductors