Deriving Auslander's formula

Abstract: Auslander's formula shows that any abelian category C is equivalent to the category of coherent functors on C modulo the Serre subcategory of all effaceable functors. We establish a derived version of this equivalence. This amounts to showing that the homotopy category of injective objects of some appropriate Grothendieck abelian category (the category of ind-objects of C) is compactly generated and that the full subcategory of compact objects is equivalent to the bounded derived category of C. The same approach shows for an arbitrary Grothendieck abelian category that its derived category and the homotopy category of injective objects are well-generated triangulated categories. For sufficiently large cardinals alpha we identify their alpha-compact objects and compare them.