In mathematics, the Alexander polynomial is a knot invariant which assigns a polynomial with integer coefficients to each knot type. James Waddell Alexander II discovered this, the first knot polynomial, in 1923. In 1969, John Conway showed a version of this polynomial, now called the Alexander–Conway polynomial, could be computed using a skein relation, although its significance was not realized until the discovery of the Jones polynomial in 1984. Soon after Conway's reworking of the Alexander polynomial, it was realized that a similar skein relation was exhibited in Alexander's paper on his polynomial. Let K be a knot in the 3-sphere. Let X be the infinite cyclic cover of the knot complement of K. This covering can be obtained by cutting the knot complement along a Seifert surface of K and gluing together infinitely many copies of the resulting manifold with boundary in a cyclic manner. There is a covering transformation t acting on X. Consider the first homology (with integer coefficients) of X, denoted . The transformation t acts on the homology and so we can consider a module over the ring of Laurent polynomials . This is called the Alexander invariant or Alexander module. The module is finitely presentable; a presentation matrix for this module is called the Alexander matrix. If the number of generators, , is less than or equal to the number of relations, , then we consider the ideal generated by all minors of the matrix; this is the zeroth Fitting ideal or Alexander ideal and does not depend on choice of presentation matrix. If , set the ideal equal to 0. If the Alexander ideal is principal, take a generator; this is called an Alexander polynomial of the knot. Since this is only unique up to multiplication by the Laurent monomial , one often fixes a particular unique form. Alexander's choice of normalization is to make the polynomial have a positive constant term. Alexander proved that the Alexander ideal is nonzero and always principal. Thus an Alexander polynomial always exists, and is clearly a knot invariant, denoted .

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