Before revision: Completeness assumes that an individual has well defined preferences: Axiom 1 (Completeness) For any lotteries L,M, at least one of the following holds: , (the individual must express some preference or indifferenceImplicit in denoting indifference by equality are assertions like if then .
After revision: sandklanlknlanlCompleteness assumes that an individual has well defined preferences: Axiom 1 (Completeness) For any lotteries L,M, at least one of the following holds: , (the individual must express some preference or indifferenceImplicit in denoting indifference by equality are assertions like if then .