Homotopy equivalences are a concept in algebraic topology where two topological spaces can be continuously transformed into each other. This means there are continuous maps between the spaces that allow for a 'back and forth' transformation, preserving the essential structure of the spaces. In the context of algebraic K-theory, homotopy equivalences play a crucial role in understanding how different spaces can share similar K-theoretic properties, which is central to the Bott periodicity theorem.
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