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(Power) Any bicategory with finite bilimits is equivalent to a strict 2-category with finite flexible limits.
Let be a bicategory with finite bilimits, let be its Yoneda embedding, and let be the closure of in under finite flexible limits. Since is a strict 2-category with finite flexible limits, so is . And since has finite bilimits, and these are preserved by its Yoneda embedding, while flexible limits are in particular bilimits, every object of is equivalent to an object of . Thus, .
Furthermore, the 2-category of finite bilimit-preserving pseudofunctors into is equivalent to the 2-category of finite PIE limit-preserving 2-functors into and pseudonatural transformations.
John Power, Coherence for bicategories with finite bilimits I, Categories in computer science and logic, Contemporary Mathematics 92 (1989) pp 341-347 MR1003207, doi:10.1090/conm/092, (Google Books)
John Power, Why tricategories?, Information and Computation 120.2 (1995): 251-262.
John Power, Three dimensional monad theory, Contemporary Mathematics 431 (2007): 405.
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