Spacetime perspective of Schwarzschild lensing
  We propose a definition of an exact lens equation without reference to a background spacetime, and construct the exact lens equation explicitly in the case of Schwarzschild spacetime. For the Schwarzschild case, we give exact expressions for the angular-diameter distance to the sources as well as for the magnification factor and time of arrival of the images. We compare the exact lens equation with the standard lens equation, derived under the thin-lens-weak-field assumption (where the light rays are geodesics of the background with sharp bending in the lens plane, and the gravitational field is weak), and verify the fact that the standard weak-field thin-lens equation is inadequate at small impact parameter. We show that the second-order correction to the weak-field thin-lens equation is inaccurate as well. Finally, we compare the exact lens equation with the recently proposed strong-field thin-lens equation, obtained under the assumption of straight paths but without the small angle approximation, i.e., with allowed large bending angles. We show that the strong-field thin-lens equation is remarkably accurate, even for lightrays that take several turns around the lens before reaching the observer. 
Simonetta Frittelli, Thomas P. Kling and Ezra T. Newman