This article investigates some simple models of the evolutionary interaction between two prey species that share a common resource and a common predator. Each prey species is characterized by a trait that determines both the rate of resource capture and vulnerability to a predator. In a simple model of a three-species food chain, such traits usually increase in response to an imposed reduction in resource density. When the per capita growth rates of each of two prey species depend linearly on resource density, such traits will change in opposite directions when the two prey come into sympatry. In addition, the ratio of the effect of the predator on prey fitness to the effect of the resource on prey fitness will diverge from the corresponding ratio in a second prey species when those species coexist in sympatry. These simple predictions need not hold under several alternative assumptions, which may be more common in biological systems. Parallel changes in sympatry may occur if the relationship between resource consumption and prey growth is nonlinear, if the prey species have partial overlap in the set of resources used or in the set of predators that consume them, or if prey experience direct intraspecific competition. The responses to a second prey can also differ significantly from those predicted by the simplest model if separate traits affect vulnerability to predators and resource acquisition rate. It is important to determine whether examples of character displacement previously interpreted as responses to competition for resources might also reflect responses to altered predation risks in sympatry.