Based on data collected over 24 years in the Serengeti in Tanzania, Sinclair and Arcese (1995) indicated that the sensitivity of blue wildebeest Connochaetes taurinus to predation risk by lions Panthera leo may cause them to change habitats between open (low risk) and wooded (risky) habitats. They found that, in poor rainfall years, predators kill wildebeest that are in better condition than those that die of natural causes. In good rainfall years, predators kill wildebeest that are in worse condition than those that die of natural causes. Sinclair and Arcese (1995) proposed the “predation-sensitive food” hypothesis. This hypothesis suggests that, as food becomes limiting, animals take greater risks to obtain more food, and some of these animals are killed. I propose a more parsimonious hypothesis based on the marginal value theorem that is consistent with the observations made by Sinclair and Arcese (1995). Wildebeest follow a single decision rule in good and poor rainfall years, viz. move when foraging elsewhere increases your rate of intake of nutritious food. Similarly, predators follow a single decision rule in good and poor rainfall years, viz. take the prey item that maximizes the intake of energy per unit effort expended. This parsimonious model does not require differences in predator sensitivity as required by Sinclair and Arcese's (1995) model. I indicate ways in which my model can be falsified.