Subproduct systems over N×N

We develop the theory of subproduct systems over the monoid N×N, and the non-self-adjoint operator algebras associated with them. These are double sequences of Hilbert spaces equipped with a multiplication given by coisometries from X(i,j)⊗X(k,l) to X(i+k,j+l). We find that the character space of the norm-closed algebra generated by left multiplication operators (the tensor algebra) is homeomorphic to a complex homogeneous affine algebraic variety intersected with a unit ball. Certain conditions are isolated under which subproduct systems whose tensor algebras are isomorphic must be isomorphic themselves. In the absence of these conditions, we show that two numerical invariants must agree on such subproduct systems. Additionally, we classify the subproduct systems over N×N by means of ideals in algebras of non-commutative polynomials.