Abstract
We define a -theory for pointed right derivators and show that it agrees with Waldhausen -theory in the case where the derivator arises from a good Waldhausen category. This -theory is not invariant under general equivalences of derivators, but only under a stronger notion of equivalence that is defined by considering a simplicial enrichment of the category of derivators. We show that derivator -theory, as originally defined, is the best approximation to Waldhausen -theory by a functor that is invariant under equivalences of derivators.
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