High: hanging out on the beach after the conference dinner with Tom, Steve Lack, Eugenia Cheng, Peter Lumsdaine, Emily and Louise, and Telyn Kusalik. Great fun, good company, an amazing starfield, and cold but invigorating water to swim in :-) Also, in general, the surroundings: Carvoeiro's a beautiful place
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A model category is a complete and cocomplete category K, equipped with three distinguished classes of morphisms W, F and C such that
1) W has the "2 out of 3" property and is closed under retracts.
2) (W,F) and (W,C) are weak factorization systems.
Unfortunately, I didn't manage to write down the definitions of the 2 out of 3 property or of a weak factorization system :-) But a WFS is essentially defined by taking the standard notion of a factorization system (see eg Borceux's Handbook of Categorical Algebra) and removing the word "unique", as I understand it. So, we haven't simplified the problem all that much, but we have at least broken it down a bit. This paper looks relevant.
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