We prove two general factorization theorems for fixed-point invariants of fibrations: one for the Lefschetz number and one for the Reidemeister trace. These theorems imply the familiar multiplicativity results for the Lefschetz and Nielsen numbers of a fibration. Moreover, the proofs of these theorems are essentially formal, taking place in the abstract context of bicategorical traces. This makes generalizations to other contexts straightforward.
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