Damn, Bob, there you go again, forcing me to the dictionary (I am assuming that your "Q.E.D." is in the traditional, not sarcastic use).
To be fair to Rich, we were talking about another subject much more interesting to me than strategy when he bid his B.S./Good Night. I do recall that he thinks similarly of "our" understanding of strategy on this site. I like JME's comment about game management. We all hit stupid shots, and your example of making poor decisions- a bad cost/benefit analysis- is part and parcel of not just the game, but life in general. My impression is that the gca is but one element and perhaps not the major one at that (our personal demons, weather, conditions, the specific situation, the nature of the competition, etc. being the bigger part).
I see what Mark describes quite often- the costs of the so called low-risk option not being high enough to entice the riskier approach, or vice versa. Distance should be its own reward, but often times the angle is awkward or the penalties for a less than perfect apprach too severe.