TITLE: compact-open topology
QUESTION [9 upvotes]: Is there a natural reason for defining the compact-open topology on the set of continuous functions between two locally compact spaces. For example "to make ... functions continuous". Or in another way of asking this, is there an adjoint functor of the functor, say F, which assigns the topological space $F(X,Y):=Hom_C(X,Y)$ (with the compact-open topology on it) to the couple X,Y.

REPLY [20 votes]: I always liked the following reason:
Let's call a topology on a space "admissible" if the evaluation function $e: Hom(X,Y) \times X \rightarrow Y$ is continuous. Then the compact-open topology is coarser than any other admissible topology. In particular, in any case where the compact-open topology is admissible, it is the smallest possible topology that does this.
EDIT: See comments for some references. I don't claim any originality here :)