Two experiments, using rats as subjects, investigated the effect of different reinforcer amounts and energy budgets on choice between constant and variable alternatives under a closed economy. Rats were housed in the chamber and were exposed to a modified concurrent-chains schedule in which the choice phase was separated from a rest phase during which the rats could engage in other activities. In the choice phase, a single variable-interval schedule arranged entry into one of two equal terminal links (fixed-interval schedules). The constant terminal link ended with the delivery of a fixed number of food pellets (two or three, depending on the condition), whereas the variable terminal link ended with a variable number of food pellets (means of two or three, depending on the condition). Energy budget was defined as positive when body weights were over 90% of free-feeding weights, and as negative when they were under 80% of free-feeding weights. The different body weights were produced by varying the duration of the equal terminal-link schedules within daily 3-hr sessions. In Experiment 1, rats chose between a constant and a variable three pellets under both energy budgets. Rats preferred the constant three pellets more under the positive energy budget, whereas they were indifferent under the negative energy budget. In Experiment 2, rats chose between a constant three pellets and a variable two pellets, and chose between a constant two pellets and a variable three pellets under both energy budgets. The rats strongly preferred the constant three pellets over the variable two pellets under both energy budgets. In contrast, rats preferred the variable three pellets over the constant two pellets only under the negative energy budget, whereas they were indifferent under the positive energy budget. These results indicate that rats choices are sensitive to the difference in reinforcer amounts and to the energy budgets defined by the level of body weight. The present results are consistent with those obtained with small granivorous birds as well as with the predictions of a recent risk-sensitive foraging theory.