In this paper we discuss in detail the underlying theory of a novel method that allows the characterizing of ultrashort laser pulses to be achieved in an analytical way. MEFISTO, (measuring the electric field by interferometric spectral trace observation) is based on a Fourier analysis of the information contained in a spectrally resolved interferometric correlation and can be applied to both situations: the characterization of an unknown pulse (MEFISTO) or to the simultaneous characterization of two different unknowns pulses (Blind-MEFISTO). The theoretical development and experimental practical implications are discussed in both situations.