The Isbell monad

In 1966 [7], John Isbell introduced a construction on categories which he termed the "couple category" but which has since come to be known as the Isbell envelope. The Isbell envelope, which combines the ideas of contravariant and covariant presheaves, has found applications in category theory, logic, and differential geometry. We clarify its meaning by exhibiting the assignation sending a locally small category to its Isbell envelope as the action on objects of a pseudomonad on the 2-category of locally small categories; this is the Isbell monad of the title. We characterise the pseudoalgebras of the Isbell monad as categories equipped with a cylinder factorisation system; this notion, which appears to be new, is an extension of Freyd and Kelly's notion of factorisation system [5] from orthogonal classes of arrows to orthogonal classes of cocones and cones.