Renormalized perturbation-theory methods with dimensional regularization are applied to the localization transition of electrons in random potentials within a field theory where the generating functional is the configurational averaged ${〈{Z}^{n}〉}_{\mathrm{av}}$ for $Z$ the vacuum-to-vacuum amplitude expressed as a functional integral over Grassman fields, in the replica limit $n=0$. The bare parameters of the theory are the Fermi level ${E}_{0}$ and the variance of the random potential ${W}_{0}$. Power counting says that at dimensionality $d=2+\ensuremath{\epsilon}$ the theory is super-renormalizable. Renormalization of the inverse propagator by the definition of renormalized Fermi level and interaction, ${E}_{F}$ and $u=(\frac{\ensuremath{\pi}{W}_{0}}{{E}_{F}}){\ensuremath{\kappa}}^{d\ensuremath{-}2}$, respectively, in order to cancel the single dimensional pole, leads to the same Wilson function $\ensuremath{\beta}(u)$ as for the compact nonlinear $\ensuremath{\sigma}$ model when the scale parameter $\ensuremath{\kappa}$ is varied at constant $\frac{{W}_{0}}{{E}_{0}}$. The conductivity is calculated in a perturbation expansion in ${(\ensuremath{\tau}{E}_{F})}^{\ensuremath{-}1}$, with ${\ensuremath{\tau}}^{\ensuremath{-}1}=\ensuremath{\pi}{W}_{0}{E}_{F}^{\frac{d}{2}\ensuremath{-}1}$ being the inverse lifetime, at $d=2+\ensuremath{\epsilon}$. It is explicitly shown that in ultraviolet-divergent $d$-dimensional loop integrals over advanced and retarded propagators, the leading term is regular while the dimensional pole occurs in the next-to-leading term. Then to leading order the conductivity ${\ensuremath{\sigma}}_{0}(\ensuremath{\omega})$ is regular while the first correction that includes the diffusion modes has a dimensional pole with residue $\ensuremath{\approx}{(\frac{i\ensuremath{\omega}}{{\ensuremath{\kappa}}^{2}})}^{\frac{\ensuremath{\epsilon}}{2}}$. To cancel this pole a renormalized inverse conductance $t(u)$ is defined, and the new Wilson function $\ensuremath{\beta}(t)$ obtained by varying $\ensuremath{\kappa}$ at constant "bare" interaction $\frac{{W}_{0}}{{E}_{F}}$ coincides with the scaling theory of Abrahams, Anderson, Licciardello, and Ramakrishnan. Scaling laws are derived from the solution of the renormalization-group equation for the conductivity.
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