In the context of localization of an (∞,1)-category or the corresponding -category-theoretic Bousfield localization, local equivalences are those morphisms that are seen as equivalences by local objects.
More concretely, let be a subset of morphisms. Recall that an -local object is one such that for all in the induced morphism
is an equivalence.
Conversely, a morphism is is an -local equivalence if for every -local object the induced morphism
is an equivalence.
In the context of simplicial model categories “equivalence” means: weak equivalence of simplicial sets.
The model category theoretic notion is discussed in section A.3.7 of
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