Given a collection of topological spaces $X_i$ indexed by the elements $i$ of a set $I$, we consider the set product $P = \prod_{i \in I} X_i$ with projections $p_i : P \to X_i$. There are two methods of topologizing $P$.
Take the product topology having as a subbase all sets of the form $p_i^{-1}(U_i)$ with $i \in I$ and $U_i \subset X_i$ open. Therefore a base for the product topology consists of all products of form $\prod_{i \in I} U_i$ with $U_i \subset X_i$ open and $U_i \ne X_i$ only for finitely many $i$.
Take the box topology having as a base all products of form $\prod_{i \in I} U_i$ with $U_i \subset X_i$ open.
By definition the product topology is the coarsest topology on $P$ such that all $p_i^{-1}(U_i)$, with open $U_i \subset X_i$, $i \in I$, are open. This is equivalent to defining the product topology as the coarsest topology on $P$ such that all projections $p_i$ become continuous.
It is standard to endow $P$ with the product topology. This makes $(P,(p_i)_{i \in I})$ the product of the objects $X_i$ in the category of topological spaces which is characterized by the following universal property:
A function $f : Y \to P$ defined on a topological space $Y$ is continuous if and only if all $p_i \circ f : Y \to X_i$ are continuous.
This seems to be the optimum what can be expected from a topology on $P$.
On infinite products the box topology is in general strictly finer than the product topology, thus it does in general not have this universal property. As far as I know, the box topology does not have any really nice universal property; see Does the box topology have a universal property?
On the other hand, the box topology is the coarsest topology such that all products of the form $\prod_{i \in I} U_i$ with open $U_i \subset X_i$, $i \in I$, are open. On the level of sets this seems to be a very natural requirement, even more natural than requiring that all special products of the form $\prod_{i \in I} U_i$ with open $U_i \subset X_i$ open and $U_i \ne X_i$ only for finitely many $i$, are open.
Question: Are there other characterizations of product or box topology than those described above? If so, do they occur somewhere in the literature?
Here is a fairly obvious alternative characterization of the product topology:
This resembles the characterization of the box topology as the coarsest topology on $P$ such that all products of the form $\prod_{i \in I} U_i$ with open $U_i \subset X_i$, $i \in I$, are open; it is also a very natural requirement.
Note that the products of the form $\prod_{i \in I} A_i$ with closed $A_i \subset X_i$ are also closed in the box topology since it is finer than the product topology.
Let us prove the above characterization.
We know that the product topology is the coarsest topology on $P$ such that all $p_i$ become continuous. The continuity of all $p_i$ is equivalent to
But this is equivelent to
In fact, $p_i^{-1}(A_i)$ is a special case of such a product (take $A_j = X_j$ for $j \ne i$). Conversely, $\prod_{i \in I} A_i = \bigcap_{i \in I} p_i^{-1}(A_i)$ which is closed if all $p_i^{-1}(A_i)$ are closed.