The purpose of this paper is to present a local theory of input/output
stability of dynamical systems. More precisely, the intention is to o
btain local open loop conditions for local closed loop stability of fe
edback interconnections. It will be shown that, by setting the problem
in the context of extended binormed spaces it is possible to obtain l
ocal versions of the so-called small gain theorem and circle criterion
for stability of nonlinear systems. the results clearly determine the
extent of input/output stability, i.e. the set of input functions of
which stability is guaranteed.