Brownian web Brownian web In probability theory, the Brownian web is an uncountable collection of one-dimensional coalescing Brownian motions, starting from every point in space and time. It arises as the diffusive space-time scaling limit of a collection of coalescing random walks, with one walk starting from each point of the integer lattice Z at each time. What is now known as the Brownian web was first conceived by Arratia in his Ph.D. thesis and a subsequent incomplete and unpublished manuscript. Arratia studied the voter model, an interacting particle system that models the evolution of a population's political opinions. The individuals of
Brownian motion was able to rule out that the motion was life-related, although its origin was yet to be explained. The first person to describe the mathematics behind Brownian motion was Thorvald N. Thiele in a paper on the method of least squares published in 1880. This was followed independently by Louis Bachelier in 1900 in his PhD thesis "The theory of speculation", in which he presented a stochastic analysis of the stock and option markets. The Brownian motion model of the stock market is often cited, but Benoit Mandelbrot rejected its applicability to stock price movements in part because these are