I dunno, Z.
At the risk of inflicting your wrath (and granted, I don't know anything about this field), this sounds like an ass-backwards way for emotionally incompetent people to make decisions about, ironically, a field they clearly don't know what to do with (aka F). Though I'd imagine it would have its uses in todays society..there's no doubt about that. It just smells like a shortcut. A corrupted one, at that.
Satine, I will not bring my wrath upon you (at least not for what you've said thus far), but, please trust me, if you and I were to have a long conversation in which I could explain it to you, you would go, "Oh, ok, that makes sense."
It would likely still rub you the wrong way (as it did me, for a long time), but, the more you understand it (and the more you understand its limitations as well), the less this will be the case.
Just fyi, both psychologists and economists offer models to policymakers, and it is the economists' models that are found far more effective at explaining behavior.
When it really comes down to it, it
is psychology, in some sense. It's decision theory.
If you've ever seen 'A Beautiful Mind', the main character's key contribution for which he won the Nobel Prize (i.e., "game theory") is one of the most important developments in economic (and decision) theory over the last 50+ years; and, in the movie, he had his key moment of clarity while deciding with his buddies what would be the most rational way for them to approach a group of girls...
