Fourth Order Theories Without Ghosts
  Using the Dirac constraint method we show that the pure fourth-order Pais-Uhlenbeck oscillator model is free of observable negative norm states. Even though such ghosts do appear when the fourth order theory is coupled to a second order one, the limit in which the second order action is switched off is found to be a highly singular one in which these states move off shell. Given this result, construction of a fully unitary, renormalizable, gravitational theory based on a purely fourth order action in 4 dimensions now appears feasible. 
Philip D. Mannheim (University of Connecticut) and Aharon Davidson   (Ben Gurion University of the Negev)