Optimizing the renormalization group flow

Abstract:
We propose a self-consistent renormalization group prescription for the scalar field theory. The formalism coincides with the local potential approximation in the sharp cutoff limit but differ with a smooth cutoff. The dependence of the critical exponents on the smoothness parameter and the field of expansion is explored. We employ an optimization scheme based on the minimum sensitivity principle to ensure the most rapid convergence of the exponent with the polynomial truncation level.