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Sep 30, 2013 at 18:46 comment added Boris Chorny I think that you are right. In a more general situation it is probably possible to find a counterexample, but every combinatorial model category is Quillen equivalent, by a theorem of Dugger, to a left Bousfield localization of simplicial presheaves over some small category equipped with the projective model structure. But in such categories generating cofibrations are the same as the projective generating cofibrations. In particular, they have $\aleph_o$-presentable domains and codomains.
Sep 30, 2013 at 15:25 comment added Emanuele Dotto Boris, thanks for your answer. If $\lambda$ is bigger than $\aleph_0$, is it then not true in general that sequential homotopy colimits commute with finite homotopy limits? (thanks for clarifying what finite means in this context)
Sep 30, 2013 at 1:18 vote accept Emanuele Dotto
Sep 29, 2013 at 19:05 comment added Boris Chorny No, this assumption can also be removed using a framing and applying the respective formulas from Hirschhorn's book for the computation of homotopy limits. Alternatively we can replace our combinatorial model category by a simplicial one in a homotopy meaningful way and conclude that finite homotopy limits commute with filtered homotopy colimits since they commute in the simplicial replacement.
Sep 29, 2013 at 13:07 comment added Fernando Muro Sorry, Boris, I meant simplicial, not cofibrant. I don't know why I wrote cofibrant.
Sep 29, 2013 at 11:50 comment added Boris Chorny Of cause not, Fernando, cofibrant generation is a luxury. We just need it to compare the homotopy filtered colimits with the strict filtered colimits. For this purpose it suffices to assume that trivial fibrations are closed under $\lambda$-filtered colimits. But I'd rather keep this answer less technical.
Sep 29, 2013 at 10:42 comment added Fernando Muro Boris, is really necessary that the category be cofibrant?
Sep 28, 2013 at 20:36 history answered Boris Chorny CC BY-SA 3.0