We present a functorial computation of the equivariant intersection
cohomology of a hypertoric variety, and endow it with a natural ring structure.
When the hyperplane arrangement associated with the hypertoric variety is
unimodular, we show that this ring structure is induced by a ring structure on
the equivariant intersection cohomology sheaf in the equivariant derived
category. The computation is given in terms of a localization functor which
takes equivariant sheaves on a sufficiently nice stratified space to sheaves on
a poset.Comment: Significant revisions in Section 5, with several corrected proof