I have come across a limit of Gaussian integrals in the literature and am wondering if this is a well known result.

The background for this problem comes from the composition of Brownian motion and studying the densities of the composed process. So if we have a two sided Brownian motion $B_1(t)$ we replace t by an independent Brownian motion $B_2(t)$ and study the density of $B_1(B_2(t))$. If we iterate this composition n times we get the iterated integral in (**) below as an expression for the density of the n times iterated Brownian motion. The result I am interested in is derived in the following paper:

The original reference is "Fractional diffusion equations and processes with randomly varying time" Enzo Orsingher, Luisa Beghin http://arxiv.org/abs/1102.4729

Line (3.14) of Orsingher and Beghins paper reads for $t > 0$

$$(**) \qquad\lim_{n \rightarrow \infty} 2^{n} \int_{0}^{\infty} \ldots \int_{0}^{\infty} \frac{e^{\frac{-x^2}{2z_1}}}{\sqrt{2 \pi z_1}} \frac{e^{\frac{-{z_1}^2}{2z_2}}}{\sqrt{2 \pi z_2}} \ldots \frac{e^{\frac{-{z_n}^2}{2t}}}{\sqrt{2 \pi t}} \mathrm{d}z_1 \ldots \mathrm{d}z_n = e^{-2 |x|} $$

How do you prove this result without using probability? Edit: there has been a solution posted to 1) using saddlepoint approximation but I am still not clear on how to make the argument rigorous http://physics.stackexchange.com/q/7552/2757

I have been studying a slight generalization of ** from the probability side of things and have been trying to use dominated convergence to show the LHS of ** is finite but I am having problems finding a dominating function over the interval $[1,\infty)^n$. Is dominated convergence the best way to just show the LHS of (**) is finite?

Is this a type of path integral (functional integral)? Or is this integrand some kind of kinetic plus potential term arsing in quantum mechanics? Do expressions like (**) ever come up in physics literature?

(I tried using the change of variable theorem for Wiener measure to transform (**) into a Wiener integral with respect a specific integrand and have had some success with this.. I think this shows how to compute a Wiener integral with respect to a function depending on a path and not just a finite number of variables but did not see how to take this any further - The change of variable theorem for Wiener Measure was taken from "The Feynman Integral and Feynman's Operational Calculus" by G. W. Johnson and M. L. Lapidus.)