As far as economics math not representing reality: I think it's obvious enough that humans don't behave the way these equations assume. However, they are a great framework from which to think about how humans actually behave.
There's a problem: the only reason you would build a model is to predict things from it. If the model can't do that for you what you are doing has stopped being science and had turned into something else. Again: if the "framework from which to think about how humans ... behave" can't predict how humans behave in actuality looking at such frameworks is an exercise in futility.
There's a problem: the only reason you would build a model is to predict things from it. If the model can't do that for you what you are doing has stopped being science and had turned into something else. Again: if the "framework from which to think about how humans ... behave" can't predict how humans behave in actuality looking at such frameworks is an exercise in futility.