This study reviews the literature on modeling of Rational Expectations Equilibriums (REE) with respect to pragmatism of inferences. Regardless of evidence for feasibility or existence of REE, none of studies which assume either of Bayesian updating of information, and/or Borel (Quantitative) Probability Measures provide any pragmatic rubric for modeling of REE. While studies, which proffer econometric (`bounded rationality') approaches to modeling of REE have some pragmatism, all such approaches have robustness only if they are adopted prior to entry into a market. In presence of highlighted restriction, and normative importance of metrics that enable a regaining of REE subsequent to arrival of some perturbation, econometric approaches generate REE that inherently are unstable, as such, are lacking in pragmatism. The evidence shows all studies that pragmatically model REE specify qualitative probabilities over preferences, and explicitly characterize qualitative probabilities as having character of probability measures. Modeling of qualitative probability measures is shown to generate a Borel Space. While quantitative probability measures that facilitate Bayesian updating within Borel Spaces are required, however, to have concave distributions, qualitative probability measures can have either of concave or convex distributions, as such, are robust to any specification of preferences. Importantly, all studies that adopt qualitative probability measures for modeling of REE generate procedures, equivalently, mechanisms that either enable reestablishment of a preceding REE, or tattonement towards a new REE.