Given a cone pseudodifferential operator P we give a full asymptotic expansion as t → 0+ of the trace Tr Pe-tA, where A is an elliptic cone differential operator for which the resolvent exists on a suitable region of the complex plane. Our expansion contains log t and new (log t)2 terms whose coefficients are given explicitly by means of residue traces. Cone operators are contained in some natural algebras of pseudodifferential operators on which unique trace functionals can be defined. As a consequence of our explicit heat trace expansion, we recover all these trace functionals.
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