An idempotent monad is a monad on a category such that one (hence all) of the following equivalent statements are true:
is a natural isomorphism.
The maps are equal.
For every -algebra (-module) , the corresponding -action is an isomorphism.
The forgetful functor (where is the Eilenberg-Moore category of -algebras) is a full and faithful functor.
The last statement means that in such a case is, up to equivalence a full reflective subcategory of . Conversely, the monad induced by any reflective subcategory is idempotent, so giving an idempotent monad on is equivalent to giving a reflective subcategory of .
In the language of stuff, structure, property, an idempotent monad may be said to equip its algebras with properties only (since is fully faithful), unlike an arbitrary monad, which equips its algebras with at most structure (since is, in general, faithful but not full).
If is idempotent, then it follows in particular that an object of admits at most one structure of -algebra, that this happens precisely when the unit is an isomorphism, and in this case the -algebra structure map is . However, it is possible to have a non-idempotent monad for which any object of admits at most one structure of -algebra, in which case can be said to equip objects of with property-like structure; an easy example is the monad on semigroups whose algebras are monoids.
Let be a category with equalizers, and let be a monad on . There is an associated idempotent monad which at the functor level is obtained as the equalizer
The map equalizes the pair of maps , , so it factors as for some unique map . This defines the unit of the monad .
A diagram chase shows that the composite
equalizes the pair of maps , ; therefore factors as for some unique map . This defines the multiplication of the monad . By construction, is a map which preserves the monad structure.
A result due to Fakir is that the monad is idempotent in the sense given above. In fact, if has equalizers, then the category of idempotent monads on is a coreflective subcategory of the category of monads on , meaning that the full embedding
has a right adjoint given by the associated idempotent monad construction.
Mike Shulman: How about some examples of monads and their associated idempotent monads?
Do 2-monads have associated lax-, colax-, or pseudo-idempotent 2-monads?
F. Borceux, Handbook of categorical algebra, vol.2, p. 196.
P. Gabriel and M. Zisman, Calculus of Fractions and Homotopy Theory