A functional modulus of continuity for a Wiener process (Q5934103)

Let \((W_t)\), \(0 \leq t\leq 1\), be standard Brownian motion, let \(C_0[0,1]\) be the set of continuous functions \(f\) on the unit interval with \(f(0)=0\), and let \(\|\cdot\|\) denote the sup-norm on \(C_0[0,1]\). Consider the following random subset of functions \(M_{t, h}\) in \(C_0[0,1]\): \[ M_{t, h}(x) = {W(t+hx)-W(t)\over 2h \log (1/h)}\leq x \leq 1 , \] where \(h \in (0,1)\) and \(t \in [0, 1-h]\). The authors prove a functional limit law for the set \(\{ M_{t, h}, h \in (0,1), t \in [0, 1-h]\}\). More precisely, let \(S\) denote Strassen's limit class, i.e. the subset of \(C_0[0,1]\) where Schilder's rate function has values less than or equal to \(1/2\). Then, almost surely, \[ \lim_{h \to 0} \sup_{0 \leq t \leq 1-h} \inf_{f \in S} \|M_{t, h} - f\|= 0 \] and, for any \(f \in S\), \[ \lim_{h \to 0} \inf_{0 \leq t \leq 1-h} \|M_{t, h} - f\|= 0 . \] Of course, this implies Lévy's law for the modulus of continuity, with \`\` limsup\'\'\ in the statements replaced with \`\` lim\'\' . The proof is based on a large deviation principle.\hfil\break The fact that the set \(\{ M_{t, h}, h \in (0,1), t \in [0, 1-h]\}\) is, almost surely, relative compact with limit points \(S\), was obtained also by \textit{C. Mueller} [Z. Wahrscheinlichkeitstheorie Verw. Geb. 56, 163-179 (1981; Zbl 0463.60031)].