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First provide a summary of the paper, and then address the following criteria: Quality, clarity, originality and significance. This paper presents a rational model of economic choice, where values are replaced by inferences about relative rank in a context. The model is shown to provide a good fit to pricing data and risky-choice experiments.Overall, I found the paper interesting, but somewhat too narrow and inaccessible for a NIPS audience. There was lots of insufficiently explained economic jargon (e.g. Veblen and Giffen goods), which are key for understanding the contribution.