AbstractWe study the cohomological Hall algebra {\operatorname{Y}\nolimits^{\flat}} of a Lagrangian substack {\Lambda^{\flat}} of the moduli stack of
representations of
the preprojective algebra of an arbitrary quiver Q, and their actions on the cohomology of Nakajima quiver varieties.
We prove that {\operatorname{Y}\nolimits^{\flat}} is pure and we compute its Poincaré polynomials in terms of (nilpotent) Kac
polynomials. We also provide a family of algebra generators.
We conjecture that {\operatorname{Y}\nolimits^{\flat}} is equal, after a suitable extension of scalars,
to the Yangian {\mathbb{Y}} introduced by Maulik and Okounkov.
As a corollary, we prove a variant of Okounkov’s conjecture, which is a generalization of the Kac conjecture relating the constant term of Kac polynomials to root multiplicities of Kac–Moody algebras.