  We discuss an analytic approach for modeling structure formation in sheets,
filaments and knots. This is accomplished by combining models of triaxial
collapse with the excursion set approach: sheets are defined as objects which
have collapsed along only one axis, filaments have collapsed along two axes,
and halos are objects in which triaxial collapse is complete. In the simplest
version of this approach, which we develop here, large scale structure shows a
clear hierarchy of morphologies: the mass in large-scale sheets is partitioned
up among lower mass filaments, which themselves are made-up of still lower mass
halos. Our approach provides analytic estimates of the mass fraction in sheets,
filaments and halos, and its evolution, for any background cosmological model
and any initial fluctuation spectrum. In the currently popular $\Lambda$CDM
model, our analysis suggests that more than 99% of the cosmic mass is in
sheets, and 72% in filaments, with mass larger than $10^{10} M_{\odot}$ at the
present time. For halos, this number is only 46%. Our approach also provides
analytic estimates of how halo abundances at any given time correlate with the
morphology of the surrounding large-scale structure, and how halo evolution
correlates with the morphology of large scale structure.
