At a Rational Expectations Equilibrium (REE), individuals are assumed to know the map from states to prices. This hypothesis has two components, that agents agree (consensus), and that they have point expectations (degeneracy). We consider economies where agents' beliefs are described by a joint...

In a finite state world with subjective expected utility maximizers, there is an unambiguous notion of what it means to know event: an event is known if it is assigned probability one. But when should a non-expected utility maximizer be said to know an event? Consider a lexicographic expected...