Abstract
-algebras are certain algebraic structures associated to a finite dimensional Lie algebra and a nilpotent element via Hamiltonian reduction. In this note we give a review of a recent approach to the study of (classical affine and quantum finite) -algebras based on the notion of Lax type operators. For a finite dimensional representation of a Lax type operator for -algebras is constructed using the theory of generalized quasideterminants. This operator carries several pieces of information about the structure and properties of the -algebras and shows the deep connection of the theory of -algebras with Yangians and integrable Hamiltonian hierarchies of Lax type equations.
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