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For a broad collection of categories $\cal K$, including all presheaf categories, the following statement is proved to be consistent: every left exact (i.e. finite-limits preserving) functor from $\cal K$ to $\Set$ is small, that is, a small colimit of representables. In contrast, for the (presheaf) category ${\cal K}=\Alg(1,1)$ of unary algebras we construct a functor from $\Alg(1,1)$ to $\Set$ which preserves finite products and is not small. We also describe all left exact set-valued functors as directed unions of ``reduced representables'', generalizing reduced products.
@article{TAC_2001_8_a12, author = {J. Adamek and V. Koubek and V. Trnkova}, title = {How large are left exact functors?}, journal = {Theory and applications of categories}, pages = {377--390}, publisher = {mathdoc}, volume = {8}, year = {2001}, language = {en}, url = {http://geodesic.mathdoc.fr/item/TAC_2001_8_a12/} }
J. Adamek; V. Koubek; V. Trnkova. How large are left exact functors?. Theory and applications of categories, Tome 8 (2001), pp. 377-390. http://geodesic.mathdoc.fr/item/TAC_2001_8_a12/