Extremal K -Theory and Index for C*-Algebras

We develop the general theory for a new functor K _e on the category of C ^*-algebras. The extremal K-set, K _e (A), of a C ^*-algebra A is defined by means of homotopy classes of extreme partial isometries. It contains K ₁ (A) and admits a partially defined addition extending the addition in K ₁ (A), so that we have an action of K ₁ (A) on K _e (A). We show how this functor relates to K ₀ and K ₁, and how it can be used as a carrier of information relating the various K-groups of ideals and quotients of A. The extremal K-set is then used to extend the classical theory of index for Fredholm and semi-Fredholm operators.