Unfolding theory was created to describe and analyze preferential choice. In this book the author undertakes a thorough theoretical and empirical comparison of probabilistic unfolding models. The monograph opens with an introductory description of unfolding theory and a summary account of its probabilistic varieties. Testable properties of probabilistic choice behavior, such as the well known stochastic transitivity conditions, are discussed or newly developed. The author presents a new algorithm to find maximum likelihood estimates of choice probabilities under these conditions, and a statistical test. The evaluation strategy is applied to data published in the literature and to data from two experiments designed to test the validity of probabilistic unfolding theories.