Risk-sensitive analysis of subsistence adaptations is warranted when (i) outcomes are to some degree unpredictable and (ii) they have nonlinear consequences for fitness and/or utility. Both conditions are likely to be common among peoples studied by ecological anthropologists and archaeologists. We develop a general conceptual model of risk. We then review and summarize the extensive empirical literatures from biology and anthropology for methodological insights and for their comparative potential. Risk-sensitive adaptive tactics are diverse and they are taxonomically widespread. However, the anthropological literature rarely makes use of formal models of risk-sensitive adaptation, while the biological literature lacks naturalistic observations of risk-sensitive behavior. Both anthropology and biology could benefit from greater interdisciplinary exchange. © 1999 Plenum Publishing Corporation.