Homotopical algebraic geometry I: topos theory

In the second part of the paper, we present a parallel theory where S-categories, S-topologies and S-sites are replaced by model categories, model topologies and model sites. We prove that a canonical way to pass from the theory of stacks over model sites to the theory of stacks over S-sites is provided by the simplicial localization construction of Dwyer and Kan. As an example of application, we propose a definition of étale K-theory of ring spectra, extending the étale K-theory of commutative rings.