It’s even worse than that it’s not even just the irrationally that’s unaccounted for. It’s also that people rationally optimize for variables that are disregarded. Neoclassical economics takes obviously falsifiable assumptions as axioms. It’s brutally stupid shit. No amount of numbers attached to it would make it work if those axioms are wrong. Yet it’s been used to enact major economic policy all over the world. Including “shock therapy” that got applied to many countries around the world, such as my country of origin where that led to dramatic drop in GDP, standard of living, life expectancy, more than a decade of poverty and a 20% population exodus. People like to badmouth Psychology as a shit science, boy, Psychologists check their results a lot more than these folks.