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U.S. v. $448,342.85

Nos. 91-2912, 91-2913, 91-3159 and 91-3160.

969 F.2d 474 (1992)

UNITED STATES of America, Plaintiff-Appellee, v. $448,342.85, et al. (J.M. Distributors and Westmont Corporation, Claimants), Defendants-Appellants.

United States Court of Appeals, Seventh Circuit.

Decided July 29, 1992.

Attorney(s) appearing for the Case

Elizabeth M. Landes, Asst. U.S. Atty., (argued) Office of U.S. Atty., Crim. Div., John S. Brennan, Asst. U.S. Atty., Office of U.S. Atty., Civ. Div., Appellate Section, Chicago, Ill., for plaintiff-appellee U.S.

Jeffrey B. Steinback, Genson, Steinback, Gillespie & Martin, Donald J. Moran, Bruce E. de'Medici, Gregory N. Kazarian, Pedersen & Houpt, Chicago, Ill., for defendant Four Hundred Forty-Eight Thousand Three Hundred Forty Two Dollars and Eighty Five Cents.

Jeffrey B. Steinback, Marc W. Martin, Leonard Goodman (argued), Genson, Steinback, Gillespie & Martin, Chicago, Ill., for appellants J.M. Distributors and Westmont Corp.

Before CUDAHY, COFFEY, and EASTERBROOK, Circuit Judges.

EASTERBROOK, Circuit Judge.

Competition among sellers, coupled with bargain-hunting by buyers, leads to prices that protect ignorant, lazy, or busy customers. Comparison shopping by even a fairly small portion of potential customers drives prices to the level reflecting full information about goods of their quality.* Because buyers know this effect, if only hazily, sellers try to persuade them that they need not shop. "Look what knowledgeable...

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