The difference between the smallest eigenvalue and the next-smallest of a graph Laplacian (equivalently, the difference between the largest and next-largest of the random walk Markov chain on the graph) is the spectral gap, related to the Cheeger constant, etc. Is there any interpretation of the gap between the two extreme eigenvalues on the other side -- i.e. the largest ones of the Laplacian?
I am equally interested in the interpretation of the gap between the smallest two singular values of an arbitrary two matrix.