Algebras with parametrized iterativity (Q2464938)

Following the idea of \textit{T. Uustalu} [Theor. Inform. Appl. 37, No.~4, 315--336 (2003; Zbl 1042.18003)], algebras for parametrized endofunctors \(H:{\mathcal S}et\times {\mathcal S}et\rightarrow Set\) are studied having the property that certain recursive finitary equations have unique solutions. In order to formalize the concept of these equations and their solutions, a base is introduced and it is proved that every object generates a free algebra with the above parametrized iterativity. The corresponding monad \(R\) on \({\mathcal S}et\) (called the rational monad of \(H\)) is described.