We show that several properties of the theory of Rees algebras of modules
become more transparent using the category of coherent functors rather than
working directly with modules. In particular, we show that the Rees algebra is
induced by a canonical map of coherent functors.Comment: 15 pages. This is an extended part of an old version of
arXiv:1402.3219 - v2: Clarified some statements and made minor notation
change