 Intransitivities of a somewhat different kind are also predicted by Loomes &amp; Sugden’s (1982, 1987) Regret  Theory.[16]  The guiding idea behind this proposal is that the appreciation of a given outcome in a given state is an essentially comparative matter. It is determined by the regret (or the rejoicement) associated with the thought that the alternatively available acts would have led, in the same circumstances, to a particular set of alternative outcomes. In the special case of binary alternatives, this intuition translates into the following menu-dependent preference functional: 