There are three main theories discussed in the document for relating physical properties to psychological sensation: Signal Detection Theory, Weber and Weber-Fechner Law, and Steven's Power Law. Signal Detection Theory examines sensitivity to signals and incorporates concepts like the receiver operating characteristic curve and d-prime. Weber and Weber-Fechner Law propose that just noticeable differences are proportional to stimulus intensity based on Weber's fraction. Steven's Power Law suggests people can quantify sensation in equal psychological units.