In this work we revise the theory of one electron in a ferromagnetically saturated local moment system interacting via a Kondo-like exchange interaction. The complete eigenstates for the finite lattice are derived. It is then shown, that parts of these states lose their norm in the limit of an infinite lattice. The correct (scattering) eigenstates are calculated in this limit. The time-dependent Schrodinger equation is solved for arbitrary initial conditions and the connection to the down-electron Greens function and the scattering states is worked out. A detailed analysis of the down-electron decay dynamics is given.
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