The 14th Summer Festival on Game Theory Rational Expectations Equilibrium in Economy for Multi-modal Logic

We investigate a pure exchange economy under uncertainty with emphasis on the logical point of view; the traders are assumed to have nonpartitional information structures corresponding to a multi-modal logic. We propose a pure exchange economy for the multi-modal logic KT, and give the generalized notion of rational expectations equilibrium for the economy. We establish the finite model property for the logic KT and the existence of the generalized rational expectation equilibrium. Further, we characterize welfare under the generalized rational expectations equilibrium in an economy EKT for logic KT.