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The limit economy has infinitely many traders partitioned into a finite set of symmetry classes called types. The model and the replicas are presented in Section 2. Section 3 studies the efficient allocation. Section 4 studies rational expectations equilibrium (REE), establishing that monotonicity of the efficient allocation ensures existence and uniqueness of a fully revealing REE. Section 5 proves that the efficient allocation is attainable if and only if it is monotone. Sections 7 and 8 present positive results, showing that if monotonicity of the efficient allocation is satisfied then auctions yield strategic foundations for the REE, and further, the outcomes of large-but-finite auctions approximate the fully revealing REE. 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