Invariant subspaces for operators with Bishop's property \((\beta{})\) and thick spectrum (Q1173579)

Using well-known techniques of S. Brown,the authors prove that each subdecomposable operator \(T\) on a complex Banach space \(X\) with thick spectrum has a non-trivial invariant subspace. It is known [\textit{E. Albrecht} and \textit{J. Eschmeier}, ``Functional models and local spectral theory'', preprint] that \(T\) is the restriction of a decomposable operator iff it satisfies Bishop's property \((\beta)\): that \(T_ z: O(U,X)\to O(U,X)\), with \(f\mapsto(z-T)f\), is injective with closed range for each open set \(U\) in \(\mathbb{C}\). The spectrum \(\sigma(T)\) is ``thick'' if there is an open set \(V\subseteq\mathbb{C}\) such that \(\| f\|=\sup\{| f(z)|:\;z\in\sigma(T)\cap V\}\) for all \(f\in P^ \infty(V)\), the \(w^*\)-closed subspace of \(L^ \infty(V)\) generated by the polynomials. The authors also show that if the essential spectrum is thick, then the invariant subspace lattice of \(T\) contains a sublattice order isomorphic to the lattice of all closed linear subspaces of a suitable infinite dimensional Banach space. Using duality, analogous results are obtained for operators occurring as quotients of decomposable operators. These extend earlier invariant subspace results of \textit{E. Albrecht} and \textit{B. Chevreau} [J. Oper. Theory 18, 339-372 (1987; Zbl 0655.47006)] for operators acting on quotients of closed subspaces of \(\ell^ p\). In later sections of the paper, the authors obtain conditions which insure that the operator algebra \(\text{Alg Lat}(T)\) generated by the invariant subspace lattice of \(T\) can be represented as an algebra consisting of bounded analytic functions on an open subset \(V\subseteq\mathbb{C}\). In particular, if \(T\) has property \((\beta)\) and if its essential spectrum is dominating in \(V\) then there is a continuous algebra homomorphism \(\Phi: \text{Alg Lat}(T)\to H^ \infty(V)\) such that \(\Phi(p(T))=p\) for each polynomial \(p\). The kernel of \(\Phi\) is characterized and conditions are given which ensure that \(\text{Alg Lat}(T)\) is contained in the bicommutant of \(T\).