  Continuity of local time for Brownian motion ranks among the most notable
mathematical results in the theory of stochastic processes. This article
addresses its implications from the point of view of applications. In
particular an extension of previous results on an explicit role of continuity
of (natural) local time is obtained for applications to recent classes of
problems in physics, biology and finance involving discontinuities in a
dispersion coefficient. The main theorem and its corollary provide physical
principles that relate macro scale continuity of deterministic quantities to
micro scale continuity of the (stochastic) local time.
