@article{f09511c295d6457ab4325c043ae71507,

title = "Characterizing the efficient set when preferences are state-dependent",

abstract = "We consider economic models under uncertainty where risk-averse decision makers must choose from a given set of random variables. This paper develops a price characterization of the set of efficient state-payoff bundles when preferences are risk averse and state dependent. We also show how the set of such efficient bundles varies when different classes of state-dependent utility functions are considered.",

author = "Itzhak Zilcha",

note = "Funding Information: * This research has been supported by the Foerder Institute for Economic Research at Tel-Aviv University and by the National Science Foundation Grant SES-8408670. I would like to thank E. Karni for some helpful discussions and B. Peleg for his comments. I am indebted to an anonymous referee for his comments and suggestions which have significantly improved this work.",

year = "1987",

month = apr,

doi = "10.1016/0022-0531(87)90028-7",

language = "אנגלית",

volume = "41",

pages = "417--423",

journal = "Journal of Economic Theory",

issn = "0022-0531",

publisher = "Academic Press Inc.",

number = "2",

}