Before revision:  We show that, for any measurable random endowment (regardless of whether the problem is finite or not) an optimal strategy exists, a dual representation in terms of  martingale measures holds true, and that the problem satisfies the dynamic programming principle  .
After revision:  We show that, for any measurable random endowment (regardless of whether the problem is finite or not) an optimal strategy exists, a dual representation in terms of martingale measures holds true, and that the problem satisfies the dynamic programming principle (in case of no options). Further it is shown that the value of the utility maximization problem converges to the robust superhedging price as the risk aversion parameter gets large, and examples of nondominated probabilistic models are discussed .