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So, we're talking about Selection Combining (SC); there's other combining methods, too!
independent receptions
Good that you're stating that, this will be handy in a minute.
Is there a mathematical derivation that tackles this subject from this point of view?
The very definition of a CDF tackles that, but only if the channel realizations have a distribution that have a finite magnitude maximum, which is usually not the case.
Let $|h_i|$ be the magnitude of the $i$th of the $N$ individual channels. Then, the cumulative density function of the "best of all $N$ channels" is simply defined as $\eqref{def}$
\begin{align}
F_{\text{SC},N}(x) &= P\left(\max_{i=1,\ldots,N}|h_i| < x\right) \label{def}\tag{1}\\
&=P\left(|h_1|<x \,\wedge\, |h_2|<x\,\wedge\,\ldots\,\wedge\,|h_N|<x\right)\tag2{}\\
&=\prod_{i=1}^N P\left(|h_i|<x\right)\tag3&\text{due to independence}\\
&=\prod_{i=1}^N F_{|h_i|}\left(x\right)\tag3 & \text{definition of "CDF"}\\
&=\prod_{i=1}^N F_{|h_1|}(x)\tag4 &\text{all identically distr.}\\
&= \left(F_{|h_1|}(x)\right)^N\tag5\label{ord}
\end{align}
I'm almost certain you've seen $\eqref{ord}$ already – you're looking for the concept of diversity order.
Now, let's see about your infinite number of antennas. Two ways to say the same thing:
- You know that this doesn't make sense. If I'm sampling any continuous distribution, such as an absolute normal distribution, an infinite amount of times, I will surely hit any non-zero-mass interval. So, even from basic definition of probability, the answer is already clear: you can assume that you get an arbitrarily large channel coefficient! Congratulations!
- $\lim_{N\to\infty} k^N = 0\quad\forall |k|<1$, no matter what $k$ actually is. But if $k=F(x)$ is a cumulative probability function (CDF), it's always $<1$ (unless you hit the maximum value), by definition of CDF. In other words: you surely never get anything but 0; that means, the probability of getting a value out of your diversity combining that is smaller than any value that's not the maximum of your possible channel realizations is 0, which means you always get the maximum possible channel.
This makes no sense physically, because it especially means that with finite transmit energy, one of your infinitely many receive antennas gets infinitely much receive energy, if you assume any fat-tailed distribution of channel coefficient magnitudes (e.g. normal). That's (one of the many reasons) why your considerations don't matter for communication engineering.