Proof of Proposition 4(i) — $E[u(w^{SD}(K))]\le E[u(w^{SF}(\sum_n K_n))]$ for every nondecreasing utility

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Proof of Proposition 4(i) — $E[u(w^{SD}(K))]\le E[u(w^{SF}(\sum_n K_n))]$ for every nondecreasing utility · Prove2Me