Predictive power: psychology vs economics

College Life
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<p>Okay, I am just a mild-mannered psychology major (and poli sci heh) but twice in the past month now a couple of my friends, independent of each other, have tried to bring up some debate psychology vs economics in how scientific they are, and how good at predicting behavior they are.</p>

<p>Honestly, I didn’t even think there was a debate between the fields. But as a graduating psychology major, my sensibilities are offended when someone takes a swing at the field of psychology as utter unscientific nonsense. If you are a psychology major, you know just how scientifically rigorous the field is (very, in my opinion).</p>

<p>Anyway, let’s have at it (or just share your thoughts) and try to keep it civil I guess lol. Which field do you think better models human behavior/ is more practical/ whatever you want to say. If you like both fields, great.</p>

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<p>I will vote for Answer C. Biology. thank ye.</p>

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<p>well, I haven’t studied either, but…
I think game theory would benefit immensely if it assumed that people were not always completely logical. In my opinion, people are ALWAYS rational, but not always logical- that is, unable to reason and see which is the best option, but would pick the best option if they could see which was better.
Psychohistory a la Asimov anyone?</p>

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<p>There should be a new field of study called Psychonomics</p>

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<p>After listening to economists ramble about their “predictions,” I don’t give the field hardly any credibility at all lol. It seems like it’s one big guessing game… Of course, there’s always that one economist who might as well have won the lottery and guessed right but pretends like it was skill.</p>

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<p>I would say both as an econ major because both psychology and econ prove to have great human behavior models</p>

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<p>^ Human behavior is like a game. As predictable human behavior can be it does range in its complexity. Deciding what will cause consumer confidence to shift towards productivity is pulling a needle out of a haystack.</p>

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<p>I think econ is essentially applied psychology for markets, and how people (should) act in the market place. Both can be scientific, and both can be philosophical as well.</p>

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<p>

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<p>This. Pretty much everything we do can be traced back to our needs for self preservation and procreation. It is scary when you actually analyze basically any social construct and it falls back to one of those things.</p>

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<p>Must I post the XKCD comic…</p>

<p>Yeah I guess I do…</p>

<p>

<a href=“http://imgs.xkcd.com/comics/purity.png[/img]”>http://imgs.xkcd.com/comics/purity.png

</a></p>

<p>GO MATH POWER!</p>

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<p>@Manhattan75
I think what you are referring to, which is behavior-related, is still considered psychology.</p>

<p>@Veracity
Funny… I don’t think it’s accurate to order them by “purity,” more like by complexity.</p>

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<p>The astrology and alchemy of the modern world. Smoke and mirrors. Keep on believing though.</p>

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<p>Economics focuses on how people act.
Psychology focuses on why people act.</p>

<p>Comparing them is meaningless. They coexist synergistically, not diametrically.</p>

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<p>Both are inaccurate, since neither field is meant to predict human behavior. Most fields of economics, besides the notoriously inaccurate macroeconomics, have nothing to do with human behavior.</p>

<p>Using biology to predict human behavior is likely worse, considering how little we know about the human brain.</p>

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<p>There is. Google “Behavioral Economics” if you’re interested.</p>

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<p>“But as a graduating psychology major, my sensibilities are offended when someone takes a swing at the field of psychology as utter unscientific nonsense. If you are a psychology major, you know just how scientifically rigorous the field is (very, in my opinion).”</p>

<p>i empathize, as a future psychology [double] major. people are just dumb : P</p>

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<p>

You mean behavioral economics :)</p>

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<p>I’m in quantum mechanics right now, and the explanation of it, that you can only predict probabilities of things happening, and not predict exactly what will happen, reminds me a lot of the first day of economics classes. :)</p>

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<p>Actually, you’re right — neither psychology nor economics is about predicting behavior; I guess that’s just how my friend framed it.</p>

<p>Thank you whoever posted that xkcd comic - that pretty much says it all.</p>

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<p>This. They aren’t necessarily predictive tools, but understanding tools.</p>

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<p>Behavioral economics sounds boring</p>

<p>Psychonomics sounds catchy.</p>