We analyse the effect of two relevant physical constraints on the mass
multiplicity function of dark matter halos in a Press--Schechter type
algorithm. Considering the random--walk of linear Gaussian density fluctuations
as a function of the smoothing scale, we simultaneously i) account for mass
semi--positivity and ii) avoid the cloud--in--cloud problem. It is shown that
the former constraint implies a severe cutoff of low--mass objects, balanced by
an increase on larger mass scales. The analysis is performed both for
scale--free power--spectra and for the standard cold dark matter model. Our
approach shows that the well--known ``infrared" divergence of the standard
Press--Schechter mass function is caused by unphysical, negative mass events
which inevitably occur in a Gaussian distribution of density fluctuations.Comment: Revised version (accepted for publication in MNRAS) including a new
comparison with numerical results, a new appendix and new references.
uuencoded gzip'ed tar archive containing many LaTex files (the main file is
mass.tex). 16 pages with 6 figures (all included
