The article studies preferences of agents in a setting with imperfect information. For such a setting, the authors propose a new class of preferences. It is said that an agent prefers one statement over another if, among all indistinguishable worlds, the agent prefers the worlds where the first statement is true to those where the second one is true. The main technical result is a sound and complete logical system describing the interplay between a binary modality capturing preferences and the (...) knowledge modality. The proof of completeness is using a newly proposed “tumbled pairs” technique. (shrink)