If a Bousfield localization of spectra at a spectrum preserves all direct sums, then it is given by smash product with the -localization of the sphere spectrum
and is hence called a smashing localization.
Smashing localizations hence in particular
preserve (∞,1)-colimits;
are monoidal (∞,1)-functors except possibly for preservation of the tensor unit.
see e.g. (GGN 13, p. 8) for discussion.
rationalization is smashing: (e.g Bauer 11, example 1.7 (4))
For a group without torsion, then localization at the Moore spectrum (in particular p-localization) is smashing (see at Bousfield localization of spectra here).
Localization with respect to Morava E-theory is smashing (Hopkins-Ravenel).
“finite localizations” are smashing (Miller 92)
Jacob Lurie, Chromatic Homotopy Theory Lecture notes, Lecture 22 Morava E-theory and Morava K-theory (pdf)
Miller, Finite localizations, Boletin de la Sociedad Matematica Mexicana 37 (1992), 383–390 (HopfArchive)
David Gepner, Moritz Groth, Thomas Nikolaus, Universality of multiplicative infinite loop space machines (arXiv:1305.4550)
Tilman Bauer, Bousfield localization and the Hasse square (2011) (pdf, pdf), chapter 6 in: Christopher Douglas, John Francis, André Henriques, Michael Hill (eds.), Topological Modular Forms, Mathematical Surveys and Monographs Volume 201, AMS 2014 (ISBN:978-1-4704-1884-7)
Denis Nardin, section 3.2 of Stability and distributivity over orbital ∞-categories, 2012 (pdf)
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