jdstokes said:
Thanks for your replies RedX and daschaich,
I'm learning a lot more about QFT thanks to people on this board.
You make a good point that the 1-loop counterterm can be ignored since it is presumably higher order than \lambda^2.
The only thing that troubles me is that we didn't know this in advance until we actually did the calculation ignoring the 1-loop correction to the counterterms. It sure would have helped if P&S explained what they were doing.
To make matters even more confusing, I've read either in P&S or another QFT book that is more important to expand in the number of loops rather than the coupling constant.
In retrospect, however, it all makes sense.
Since one uses perturbation theory to calculate n-point functions, one must renormalize the theory order by order.
Usually, the tree level counter terms are designed to cancel the divergences of the 1-loop level. And then one uses the new introduced counter term vertices to construct loop diagrams of counter terms to cancel the divergences of loop diagrams with purely original parameters.
As for the importance of loop expansion, let's digress from renormalization for a while.
The loop expansion is important, because,
the loop expansion is actually an expansion of quantum correction, i.e. an expansion of \hbar. Consider the perturbation expansion of the generating functional,
Z[J] = \exp\left\{\frac{i}{\hbar}\mathcal{L}_{i}\left[-i\frac{\delta}{\delta J}\right]\right\}Z_0
, where the free Gaussian part can be integrated to be
Z_0 = \mathcal{N}\exp\left[\frac{1}{2i}\hbar\int{dx}dyJ(x)\Delta_F(x-y)J(y)\right]
We have inserted the \hbar in the formula explicitly.
Now, we see clearly that each vertex contributes a factor of \hbar^{-1}, and each propagator contributes a factor of \hbar, therefore, a Feynman diagram would have a factor of \hbar^{I-V} = \hbar^{L-1}, where I is the number of internal line, and V is the number of the vertices, L is the number of loops.
So, this means, the perturbative expansion in terms of loops is equivalent to an expansion of quantum correction!