What does completeness in decision-making imply?

Completeness in decision-making refers to the ability to evaluate and choose between any two alternatives. This characteristic signifies that a decision-maker can assess different options based on their preferences and values, ensuring that every possible choice is considered. It reflects a fundamental aspect of rational decision-making, where individuals can compare and contrast different alternatives to arrive at a preferred outcome.

In the context of decision theory, completeness implies that for any two options, X and Y, the decision-maker can express a preference for X over Y, Y over X, or be indifferent between the two. This is crucial for creating a coherent ranking of preferences, allowing for a structured framework within which decisions can be made.

Other choices do not align with the concept of completeness. For example, a preference for all outcomes refers more to a stance of inclusivity rather than the ability to evaluate alternatives, while consistent decisions across similar scenarios pertain to a different aspect of rationality—consistency rather than completeness. Indifference between choices indicates a lack of preference, which directly contradicts the idea of being able to choose between alternatives. Thus, the correct answer accurately captures the essence of completeness in decision-making.