Let $M$ be the Banach algebra of all complex Borel measures on $\mathbb{R}$. To be clear,
- Norm: $\| \mu \| = |\mu|(\mathbb{R})$, where $|\mu|(E)$ is the total variance.
- Product: $(\mu \ast \lambda)(E) = (\mu \times \lambda)(\{(x,y):x+y \in E\})=\int \mu(E-t)d\lambda(t)$. This is commutative and gives a unit, which happens to be the Dirac measure (at $0$).
I'm thinking about the Gelfand transform on $M$ but didn't find any reference on it yet, and I haven't solved it. That's why I'm asking this question. References are welcome but let me explain what I mean by describing the Gelfand transform. For the nonunitary Banach algebra $L^1(\mathbb{R},m)$ we have a nice result
To every non-trivial complex homomorphism $\varphi$ on $L^1$ there corresponds a unique $t \in \mathbb{R}$ such that $\varphi(f)=\hat{f}(t)$. (It can be found on Rudin's Real and Complex Analysis, 9.22-9.23)
Thanks to this, the Gelfand transform on $L^1$ can be identified as the Fourier transform. So I suppose similiar settings can be applied to $M$ in this question as well. Here's my thoughts so far although I didn't figure out how to go in or go further:
- Fourier transform is still a complex homomorphism in $M$, as one can easily verify. It has to play some role.
- We may need another Riesz's representation theorem.
- When thinking about $M$, we can think about the space $C_0(\mathbb{R})$ (continuous functions vanishing at the infinity). But it's not the same as $L^1$, we may need to find a approach parallel to our work on $L^1$. In fact, the ideal of absolutely continuous measures (relative to the Lebesgue measure) is isomorphic to $L^1(\mathbb{R},m)$.
- Lebesgue decomposition. For any $\mu \in M$, we have an decomposition $\mu = \mu_a+\mu_s$ where $\mu_a$ is absolutely continuous with respect to $m$, and $\mu_s \perp m$. The subspace of $\mu_a$'s is isomorphic to $L^1$, where the Fourier transform is waiting, so perhaps the problem is reduced to the Gelfand transform on the subspace of singular measures.