Brownian motion linear and angular momenta remain null over time. It is important also to note that the kinetic energies of the molecular Brownian motions, together with those of molecular rotations and vibrations sum up to the caloric component of a fluid's internal energy. This motion is named after the botanist Robert Brown, who was the most eminent microscopist of his time. In 1827, while looking through a microscope at pollen of the plant "Clarkia pulchella" immersed in water, the triangular shaped pollen burst at the corners, emitting particles which he noted jiggled around in the water in random fashion. He was
Brownian model of financial markets Brownian model of financial markets The Brownian motion models for financial markets are based on the work of Robert C. Merton and Paul A. Samuelson, as extensions to the one-period market models of Harold Markowitz and William F. Sharpe, and are concerned with defining the concepts of financial assets and markets, portfolios, gains and wealth in terms of continuous-time stochastic processes. Under this model, these assets have continuous prices evolving continuously in time and are driven by Brownian motion processes. This model requires an assumption of perfectly divisible assets and a frictionless market (i.e. that no transaction costs occur either