Final answer:
No, non-transitive decisions are not perfectly rational according to utility theory.
Step-by-step explanation:
No, according to utility theory, non-transitive decisions are not perfectly rational. Utility theory is a theory of decision-making that assumes individuals make choices based on the satisfaction or utility they expect to receive from different options. Non-transitive decisions occur when the preferences of an individual are inconsistent or not completely ordered. For example, if a person prefers option A over option B, and option B over option C, utility theory would expect them to prefer option A over option C. However, in non-transitive decisions, this preference ordering may not hold true. Therefore, non-transitive decisions are not considered perfectly rational according to utility theory.