So, let's say one has an action of $GL_n$ on an algebraic variety $X$ over a field $k$, and two objects $F,G$ in the equivariant derived category (i.e., the derived category of constructible sheaves on the stack $X/GL_n$).

For each integer $m$, let $Y_m$ be the space of injective maps of $k^n\to k^m$ and let $X_m=(Y_m\times X)/GL_n$ (with the diagonal action, as usual). Note that we have a map $p_m:X_m\to X/GL_n$.

Now, it's a fact that $Hom_{X/GL_n}(F,G)$ injects into the inverse limit $\varprojlim Hom_{X_m}(p_m^*F,p_m^*G)$, but it usually isn't injective for any given $m$.

Can anything precise be said about how fast this kernel shrinks?

The most boring case is when $F$ and $G$ are both the constant sheaf on a point. Then $Hom_{X/GL_n}(F,G)=H^*(BGL_n)$, the cohomology of the classifying space and $Hom_{X_m}(p_m^*F,p_m^*G)=H^*(Gr(m,n))$, the cohomology of the Grassmannian of $n$-planes in $m$-space. In this case the kernel is pretty well understood.

Ideally, the kernel in general would simply come from this case: i.e. these cohomology rings act on the right and left no matter what $X$ is, and the kernel might be generated by multiplying maps by classes in the kernel of the map from $H^*(BGL_n) \to H^*(Gr(m,n))$, the map from the cohomology of the classifying space to the cohomology of the Grassmannian. This seems like a reasonable statement, but I'm not sure where to look for it.

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how good an approximation to the equivariant derived category is the

So, let's say one has an action of $GL_n$ on an algebraic variety $X$ over a field $k$, and two objects $F,G$ in the equivariant derived category (i.e., the derived category of constructible sheaves on the stack $X/GL_n$).

For each integer $m$, let $Y_m$ be the space of injective maps of $k^n\to k^m$ and let $X_m=(Y_m\times X)/GL_n$ (with the diagonal action, as usual). Note that we have a map $p_m:X_m\to X/GL_n$.

Now, it's a fact that $Hom_{X/GL_n}(F,G)$ injects into the inverse limit $\varprojlim Hom_{X_m}(p_m^*F,p_m^*G)$, but it usually isn't injective for any given $m$.

Can anything precise be said about how fast this kernel shrinks?

Ideally, the kernel would simply be generated by the kernel of the map from $H^*(BGL_n) \to H^*(Gr(m,n))$, the map from the cohomology of the classifying space to the cohomology of the Grassmannian. This seems like a reasonable statement, but I'm not sure where to look for it.