We present a detailed study of the population imbalanced three-component Hubbard chain with attractive interactions. Such a system can be realized experimentally with three different hyperfine states of ultra cold $^6$Li atoms in an optical lattice. We find that there are different phases that compete with each other in this system: A molecular superfluid phase in which the three fermion species pair up to form molecules (trions), a usual pairing phase involving two species with exactly opposite momenta, and a more exotic generalized Fulde-Ferrell-Larkin-Ovchinnikov (FFLO) phase consisting of three competing pairing tendencies with different non-zero center-of-mass momenta. At large attractive interactions the system exhibits strong tendencies towards collapse and phase separation. Employing the density-matrix-renormalization-group-method (DMRG) to determine the decay exponents of the various correlators we establish the phase diagram of this model for different fillings and interactions. We also discuss the experimentally relevant situation in a trap and report the existence of an additional region where two species are dynamically balanced.
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