a–b* c–d is taken to mean that your degree of preference for a over b is less than your degree of preference for c over d. Various properties of the strength-of-preference comparison relation * are examined along with properties of simple preferences defined from *. The investigation recognizes an individual's limited ability to make precise judgments. Several utility theorems relating a–b * c–d to u(a)–u(b) are included.

Modifications of current theories of ordinal, interval and extensive measurement are presented, which aim to accomodate the empirical fact that perfectly exact measurement is not possible (which is inconsistent with current theories). The modification consists in dropping the assumption that equality (in measure) is observable, but continuing to assume that inequality (greater or lesser) can be observed. The modifications are formulated mathematically, and the central problems of formal measurement theory--the existence and uniqueness of numerical measures consistent with data--are re-examined. Some (...) results also are given on a problem which does not arise in current theories: namely that of determining limits of accuracy attainable on the basis of observations. (shrink)