Suppose a plane quadrilateral ABCD (convex, concave or crossed) no side of which is parallel to y-axis, and let $m_1, m_2, m_3, m_4$ be the slopes of the equations of sides AB, BC, CD, DA. Having made these definitions, now we may state the following theorem:
ABCD is a cyclic quadrilateral iff $$(m_1m_3-1)(m_2+m_4)=(m_2m_4-1)(m_1+m_3)$$
I can prove this theorem using the theory of circumscribing conics, but I would appreciate if someone could show me a different proof.
Proof based on the theory of conics:
Let $L_1\equiv m_1x -y +r_1=0$, $L_2\equiv m_2x -y +r_2=0$, $L_3\equiv m_3x -y +r_3=0$, $L_4\equiv m_4x -y +r_4=0$ be the equations of lines $AB$, $BC$, $CD$, $DA$.
Then all the conics which circumscribe the quadrilateral ABCD can be given by the equation $\lambda L_1L_3+\mu L_2L_4=0$.
Therefore all the conics circumscribing the quadrilateral are given by the equation $$\lambda(m_1x -y +r_1)(m_3x -y +r_3)+\mu(m_2x -y +r_2)(m_4x -y +r_4)=0,$$ $$(m_1m_3\lambda +m_2m_4\mu)x^2-((m_1+m_3)\lambda+(m_2+m_4)\mu)xy+(\lambda+\mu)y^2+...=0$$
If ABCD is a cyclic quadrilateral, then there is a circle circumscribing it, represented by an equation whose coefficients of $x^2$ and $y^2$ are equal and whose coefficient of $xy$ vanishes. Therefore
$$\begin {cases} (m_1m_3-1)\lambda +(m_2m_4-1)\mu=0\\ (m_1+m_3)\lambda +(m_2+m_4)\mu=0 \\ \end {cases} $$
As this system has to have a solution distinct from the trivial one $(0,0)$,
$$\begin{vmatrix} (m_1m_3-1) & (m_2m_4-1)\\ (m_1+m_3) & (m_2+m_4))\\\end{vmatrix}=0, $$ $$(m_1m_3-1)(m_2+m_4)=(m_2m_4-1)(m_1+m_3),$$
QED.
Conversely, if $$(m_1m_3-1)(m_2+m_4)=(m_2m_4-1)(m_1+m_3),$$ then the system above has a solution $(\lambda,\mu)$ distinct from the trivial one $(0,0)$. Therefore there is an ordered pair $(\lambda,\mu)\neq (0,0)$ which renders the following equation of a conic circumscribing the quadrilateral ABCD:
$$(\lambda +\mu)x^2 +0.xy+(\lambda +\mu)y^2+...=0$$
As $(\lambda +\mu)^2>0$, the conic given by this equation must be an ellipse (and a real one and non degenerate, because this conic passes through four real points), and, more precisely, a circle, because of the equal coefficients of $x^2$ and $y^2$, hence ABCD is a cyclic quadrilateral,
QED.
Note: $(\lambda +\mu)^2\neq0$ for two reasons (one algebric, the other geometric). First, because if $(\lambda +\mu)^2=0$, then $(\lambda +\mu)=0$, then $\lambda=-\mu$, then $m_1m_3=m_2m_4$ and $m_1+m_3=m_2+m_4$, then $m_1=m_2$ and $m_3=m_4$ (absurd!), or $m_1=m_4$ and $m_3=m_2$ (absurd!). Second, because if $(\lambda +\mu)^2=0$, then $(\lambda +\mu)=0$, then the equation wouldn´t have second degree terms, degrading to an equation of a straight line passing through four non collinear points (absurd!)
Is anyone acquainted with another proof?
As always, ignoring cases where denominators may vanish ...
We may assume the quadrilateral is inscribed in the origin-centered circle of radius $k$. We can coordinatize thusly: $$\begin{array}{c} A = k (\cos 2\alpha,\sin 2\alpha) \quad B = k(\cos2\beta,\sin2\beta) \\[4pt] C=k(\cos2\gamma,\sin2\gamma) \quad D=k(\cos2\delta,\sin2\delta) \end{array} \tag{1}$$ Then we can compute successive slopes as follows: $$\begin{array}{c} \displaystyle p = \frac{k \sin 2\alpha - k \sin 2\beta}{k\cos 2\alpha-k\cos 2\beta}=\frac{\phantom{-}2\sin(\alpha-\beta)\cos(\alpha+\beta)}{-2\sin(\alpha-\beta)\sin(\alpha+\beta)}=\cot(\alpha+\beta)=\frac{1-ab}{a+b} \\[4pt] \displaystyle q=\frac{1-bc}{b+c}\qquad r=\frac{1-cd}{c+d} \qquad s=\frac{1-da}{d+a} \end{array}\tag{2}$$ where $a:=\tan\alpha$, $b:=\tan\beta$, $c:=\tan\gamma$, $d:=\tan\delta$. Eliminating $a$, $b$, $c$, $d$ from the system is straightforward, though a bit tedious, giving the result, which can be written as follows:
$$p - q + r - s = p q r s \left(\frac1p -\frac1q+\frac1r-\frac1s \right) \tag{3}$$
Note: Let's set aside the coordinates in $(1)$ and repurpose $\alpha$, etc, to write the successive slopes as $$p = \tan\alpha \qquad q= \tan\beta \qquad r = \tan\gamma \qquad s = \tan\delta \tag{4}$$ Then $(3)$ reduces to this trigonometric form $$\sin(\alpha-\beta+\gamma-\delta) = 0 \tag{5}$$ That is, for some integer $n$, $$\alpha - \beta + \gamma - \delta = 180^\circ\,n \tag{6}$$ We can see this with a bit of angle-chasing in a typical configuration:
Since opposite angles $180^\circ-\alpha+\delta$ and $180^\circ+\beta-\gamma$ are supplementary in a cyclic quadrilateral, we have $$\alpha - \beta + \gamma - \delta = 180^\circ \tag{7}$$