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The formation of a finite density multipolaronic state is analyzed in the context of the Holstein model using the Dynamical Mean-Field Theory. The spinless and spinful fermion cases are compared to disentangle the polaron crossover from the bipolaron formation. The exact solution of Dynamical Mean-Field Theory is compared with weak-coupling perturbation theory, non-crossing (Migdal), and vertex correction approximations. We show that polaron formation is not associated to a metal-insulator transition, which is instead due to bipolaron formation.

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