Approaching the multicritical point of the two-dimensional dilute Baxter-Wu model

We investigate the critical behavior of the two-dimensional spin-$1$ Baxter-Wu model in the presence of a crystal-field coupling $\Delta$ with the goal of determining the universality class of transitions along the second-order part of the transition line and narrowing down the location of the multicritical point. We employ extensive Monte Carlo simulations using two different methodologies: (i) a study of the zeros of the energy probability distribution, closely related to the Fisher zeros of the partition function, and (ii) the well-established multicanonical approach employed to study the probability distribution of the crystal-field energy. A detailed finite-size scaling analysis in the regime of second-order phase transitions in the $(\Delta, T)$ phase diagram supports previous claims that the transition belongs to the universality class of the $4$-state Potts model. For positive values of $\Delta$, on approaching the vicinity of the multicritical point, we observe the presence of strong finite-size effects, indicative of crossover effects due to the proximity of the first-order part of the transition line. Finally, we demonstrate how a combination of cluster and heat-bath updates allows one to equilibrate larger systems, and we demonstrate the potential of this approach for resolving the ambiguities observed in the regime of $\Delta \gtrsim 0$.