Variational Bounds for the Generalized Random Energy Model
  We compute the pressure of the random energy model (REM) and generalized random energy model(GREM) by establishing variational upper and lower bounds. For the upper bound, we generalize Guerra's ``broken replica symmetry bounds",and identify the random probability cascade as the appropriate random overlap structure for the model. For the REM the lower bound is obtained, in the high temperature regime using Talagrand's concentration of measure inequality, and in the low temperature regime using convexity and the high temperature formula. The lower bound for the GREM follows from the lower bound for the REM by induction. While the argument for the lower bound is fairly standard, our proof of the upper bound is new. 
Cristian Giardina', Shannon Starr