Quotients of Toric Varieties by the Action of a Subtorus

We consider the action of a subtorus of the big torus on a toric variety. The aim of the paper is to define a natural notion of a quotient for this setting and to give an explicit algorithm for the construction of this quotient from the combinatorial data corresponding to the pair consisting of the subtorus and the toric variety. Moreover, we study the relations of such quotients with good quotients. We construct a good model, i.e. a dominant toric morphism from the given toric variety to some ``maximal’’ toric variety having a good quotient by the induced action of the given subtorus.