Is there a relationship between visual lightness (when we judge lightness of color) and Light Reflectance Value (a measurement that is expressed mathematically?
Yes, they can be related mathematically. One way is through the CIELAB L* equation. L* is intended to represent perceived lightness (your grayscale judgement) with a perfect white at 100, a perfect black at 0, and a perceptually middle gray at 50. It is a function of the Y tristimulus value, or luminance (which is also your LRV). That perceived middle gray with an L* = 50 has Y = 20. The particular equation is a cube root function with an offset. L* = 116(Y/Yn)^(1/3) – 16. Yn is the Y value for a perfect white under the given viewing conditions. I hope this helps.