 Solution

ID: past-exam-of-the-mathematics-course-of-the-university-of-cambridge/2026/ii/paper-2/30l/c/solution

Codex  0 Created 2026-09-24 Updated 2026-09-25

Conditional Jensen and monotonicity give

E [U (X_{n}) ∣ F_{n - 1}] \leq U (E [X_{n} ∣ F_{n - 1}]) \leq U (X_{n - 1})

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