When first learning about tensor products and direct sums of vector spaces, the analogy of multiplication and addition of vector spaces is sometimes used to help with the intuition. If we look at the bases of the considered vector spaces, this analogy seems most intuitive:
- the basis of the direct product of $U$ and $V$ is the concatenation of the bases of $U$ and $V$; and
- the basis of $U\otimes V$ is the set of all products $u\otimes v$, where $u$ is in the basis of $U$ and $v$ is in the basis of $V$.
This made me wonder, how far can this analogy of addition and multiplication be taken?
More precisely: letting $F$ be a field and $\mathbf V_F$ be the set of all vector spaces over $F$, it is clear that $\oplus$ and $\otimes$ define binary operations on $\mathbf V_F$, and that these operations are closed, in that given $U,V\in\mathbf V_F$, both $U\oplus V$ and $U\otimes V$ gives back an element in $\mathbf V_F$.
If we stretch the concept of two elements in $\mathbf V_F$ being equal to mean that they are isomorphic as vector spaces, then we see that $\oplus$ and $\otimes$ have some properties that the usual $+$ and $\cdot$ have, such as commutativity and associativity, and neutral elements (i.e., $\{0\}\oplus V\cong V$, and $F\otimes V\cong V$).
So then my question would be: Do we have all of the usual properties of addition and multiplication, such as inverse elements, or distributivity? In other words, can $(\mathbf V_F,\oplus,\otimes)$ be seen as a ring? And if not, which properties hold and which doesn't?
Given how natural this question feels for me, it seems that this must have already been investigated by someone.