Applications of reduced and coreduced modules I

This is the first in a series of papers highlighting the applications of reduced and coreduced modules. Let $R$ be a commutative unital ring and $I$ be an ideal of $R$. We show that $I$-reduced $R$-modules and $I$-coreduced $R$-modules provide a setting in which the Matlis-Greenless-May (MGM) Equivalence and the Greenless-May (GM) Duality hold. These two notions have been hitherto only known to exist in the derived category setting. We realise the $I$-torsion and the $I$-adic completion functors as representable functors and under suitable conditions compute natural transformations between them and other functors.