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The category of algebras for a Lawvere theory has a (2-) universal property: colimit preserving functors correspond essentially uniquely to finite coproduct preserving functors . What is the universal property of the category of algebras for a monoidal theory (pro)?
If you're taking an algebra for a PRO to be a monoidal functor , then the category of algebras is the free monoidal cocompletion, and so a cocontinuous monoidal functor is equivalent to a monoidal functor (where is a cocomplete monoidal category).
(The universal property for algebraic theories is then the specialisation of the universal property for monoidal structure to cocartesian monoidal structure.)
Ah ok, sounds rather sensible. Now I see the general result as 4.51 in Kelly... gives me some reading to do. Cheers
Matt Earnshaw has marked this topic as resolved.