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for all <math>x, y \in X.</math>
<blockquote>
''Remark 1.'' The following inequalities are equivalent and describe the [[Rate of convergence|speed of convergence]]:
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''Remark 2.'' <math>d(T(x),T(y))<d(x,y)</math> for all <math>x \neq y</math> is in general not enough to ensure the existence of a fixed point, as is shown by the map
:<math>T : [1,\infty) \to [1,\infty), \,\, T(x)=x+\tfrac{1}{x}\,,</math>
which lacks a fixed point. However, if <math>X</math> is [[Compact space|compact]], then this weaker assumption does imply the existence and uniqueness of a fixed point, that can be easily found as a minimizer of <math>d(x,T(x))</math>, indeed, a minimizer exists by compactness, and has to be a fixed point of <math>T.</math>
''Remark 3.'' When using the theorem in practice, the most difficult part is typically to define <math>X</math> properly so that <math>T(X) \subseteq X.</math>
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