Luce's Choice Axiom is like a rule that helps us understand how people make choices. It says that if you have to choose between two things, A and B, then the chance of choosing A over B is based on how much you like A compared to B.
Let's say you have two candies: a chocolate one and a gummy one. You like chocolate way more than gummies, so there's a higher chance of you picking the chocolate candy.
But here's the thing: it's not just about how much you like one thing more than another. It's also about how much more you like it. So if you love chocolate way more than you love gummies, there's a higher chance of you picking the chocolate candy than if you just kind of like it more.
Overall, Luce's Choice Axiom helps us understand that the more we like one thing compared to another, the higher the chance we'll pick it. And the bigger the difference in how much we like them, the higher the chance we'll pick the one we like way more.