Model $\infty$-categories I: some pleasant properties of the $\infty$-category of simplicial spaces

Abstract: Both simplicial sets and simplicial spaces are used pervasively in homotopy theory as presentations of spaces, where in both cases we extract the "underlying space" by taking geometric realization. We have a good handle on the category of simplicial sets in this capacity; this is due to the existence of a suitable model structure thereon, which is particularly convenient to work with since it enjoys the technical properties of being proper and of being cofibrantly generated. This paper is devoted to showing that, if one is willing to work $\infty$-categorically, then one can manipulate simplicial spaces exactly as one manipulates simplicial sets. Precisely, this takes the form of a proper, cofibrantly generated model structure on the $\infty$-category of simplicial spaces, the definition of which we also introduce here.