Abstract.—The split between objective and subjective information, characterizing dualistic theories of perception, is argued to have caused contradictions around the problems of veridicality of perception and the attention‐attracting power of stimulus properties. The theory of threshold‐regulation in categorical perception is criticized and an alternative model is suggested, where the main distinctions are between the “knowing how” and the “knowing that” of perception, between exteriorization and interiorization, and between the perceptual project and the perceptual foundation. It is demonstrated that concepts used in the analysis of dialogical communication are useful in the theory of perception to explain phenomena such as curiosity, boredom, and pathologic