Higher rank stable pairs and virtual localization

We introduce a higher rank analog of the Pandharipande-Thomas theory of stable pairs on a Calabi-Yau threefold $X$. More precisely, we develop a moduli theory for frozen triples given by the data $O^r(-n)\to F$ where $F$ is a sheaf of pure dimension 1. The moduli space of such objects does not naturally determine an enumerative theory: that is, it does not naturally possess a perfect symmetric obstruction theory. Instead, we build a zero-dimensional virtual fundamental class by hand, by truncating a deformation-obstruction theory coming from the moduli of objects in the derived category of $X$. This yields the first deformation-theoretic construction of a higher-rank enumerative theory for Calabi-Yau threefolds. We calculate this enumerative theory for local ${\mathbb{P}}^1$ using the Graber-Pandharipande virtual localization technique.