Detailed Comparison of Renormalization Scale-Setting Procedures based on the Principle of Maximum Conformality

The {\it Principle of Maximum Conformality} (PMC), which generalizes the conventional Gell-Mann-Low method for scale-setting in perturbative QED to non-Abelian QCD, provides a rigorous method for achieving unambiguous scheme-independent, fixed-order predictions for physical observables consistent with the principles of the renormalization group. In addition to the original multi-scale-setting approach (PMCm), two variations of the PMC have been proposed to deal with ambiguities associated with the uncalculated higher order terms in the pQCD series, i.e. the single-scale-setting approach (PMCs) and the procedures based on ``intrinsic conformality" (PMC$_\infty$). In this paper, we will give a detailed comparison of these PMC approaches by comparing their predictions for three important quantities $R_{e^+e^-}$, $R_{\tau}$, and $\Gamma(H \to b \bar{b})$ up to four-loop pQCD corrections. The PMCs approach determines an overall effective running coupling $\alpha_s(Q)$ by the recursive use of the renormalization group equation, whose argument $Q$ represents the actual momentum flow of the process. Our numerical results show that the PMCs method, which involves a somewhat simpler analysis, can serve as a reliable substitute for the full multi-scale PMCm method, and that it leads to more precise pQCD predictions with small residual scale dependence.