The model of Burdett and Judd (Econometrica 51 (1993), 955-969) is gen
eralized to the case of many goods. Consumers choose the best price ob
served for each good. There are two classes of equilibria, those that
involve constant expected profits for each good independently of price
and those with increasing profits for each good in price. A continuum
of the latter type always exists. These equilibria are qualitatively
different than the unique equilibrium of the single-good case. (C) 199
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