About Rayenda Brahmana

About research: google scholar: https://scholar.google.com/citations?hl=id&user=jlvpW3QAAAAJ&view_op=list_works&sortby=pubdate https://publons.com/researcher/1457129/rayenda-brahmana/ Others: twitter: @raye_brahm instagram: kolom.riset email: kolom.riset(at)gmail.com raye_brahm(at)yahoo.com

Hedonic Adaptation – How to keep Happiness from fading

I found an interesting article about how to keep happiness from fading. It was written by Heidi Grant Halvorson, an author of Nine Things Successful People Do Differently and Succeed: How We Can Reach Our Goals. It discusses about hedonic adaptation. Basically it is based on a paper by Sheldon and Lyubomirsky who addressed two reason why happiness cannot last. You can read the full article in this link: http://www.forbes.com/sites/heidigranthalvorson/2012/08/14/how-to-keep-happiness-from-fading/

How to Keep Happiness From Fading

By: Heidi Grant Halvorson,

No matter how miserable you are feeling at the moment, if you look back, there have surely been events in your life that have made you happy.  Maybe the time you bought your first car, or the time you received that long-desired promotion.  Or the time you lost fifteen pounds and were able to get back into your favorite jeans without cutting off your circulation.  When good things happen, we feel positive emotions – like excitement, relief, pride, and of course, happiness.  These feelings are essential for our well-being. Continue reading

The stock market werewolves

Hurray! My write-up about the role of moon gravity on stock markets was published by Jakarta Post. I am very happy for it. This moon effect is one of the variables in my PhD thesis. Indeed, I have done extensive literature review to examine whether there is the effect or not.

My suggestion to understand the role of moon gravity on stock markets is: (1) Read the Prospect Theory, (2) Understand the Forgas’ Affect Infusion Model, (3) Read the pros-cons of the role of full moon in psychology literature (I mentioned it in my opinion in Jakarta Post).

Here is my write-up that published by jakarta post. Hopefully, you can enjoy it. You can see it directly from this link:


Continue reading

Superstitious Fund: Too mystic to fail

It is an interesting article in BBC about superstitious fund. So, the story is about an asset management company, pool the fund, and trade it under algorithm, but it based on numerology and astrology. The Shing Tat Chung, the “boss”, even stated that this fund is only operated based on human characteristic. The fund will not traded on 13th or during full moon. The full story can be seen at this link: http://www.bbc.com/future/story/20120731-bulls-bears-and-black-cats Continue reading

Is it Behavioural Economics or Social Marketing?

Who does not know Philip Kotler? The Guru in marketing gave his point of view in behavioural economics and elaborated it with social marketing. In his point of view, behavioural economics is a bridge of economics and marketing. In his opinion, the policies such as reducing tobacco use, encouraging more physical activity, reducing tuberculosis, reducing obesity, reducing malaria, increasing contraceptive use, and reducing drink driving are the example how we can use behavioural economics in social marketing. This article, which was published in Sunday Time in May 22 2011, is an interesting one to read. I know it is a bit too late to post it here. But yet, it is very interesting opinion of Kotler. You can check the full article here: http://www.sundaytimes.lk/110522/BusinessTimes/bt36.html Continue reading

Financial Literacy and Decision Making

Prof Lusardi is well known for her works in financial literacy. She is the Denit Trust professor of economics and accountancy at the George Washington School of Business. She is the recipient of the Fidelity Pyramid Prize, awarded to authors of published applied research that best helps address the goal of improving lifelong financial well-being for Americans. She holds a Ph.D. degree in Economics from Princeton University. You can see her blog at http://annalusardi.blogspot.com/ Continue reading

Behavioural approach in Policy Making: Economic View of Thaler

It was a great article of Prof. Richard Thaler in New York Times. The article stated that gauging behavioural economics in policy making would result better. Don’t you think it is a new light of behavioural economics in the future? It is a very interesting article.

This opinion article was published on July 7, 2012 by New York Times. The title was “Watching the Behavior before Writing the Rules. The link is: http://www.nytimes.com/2012/07/08/business/behavioral-science-can-help-guide-policy-economic-view.html?pagewanted=all Continue reading

A Review on “A Perspective on Psychology and Economics” of Matthew Rabin

During Behavioural Accounting Workshop in Kuala Lumpur, Prof Tan from NTU addressed shocking information: “Most of accounting, economics, and management scholars have wrong conclusion in behavioural research because most of them never take any formal education of psychology”. Indeed, I do agree with that. Most papers in behavioural economics hanged the conclusion up to addressing the results. No further elaboration with psychology perspective. For example is the Role of full moon on investor behaviour. Rarely found a paper elaborate the findings with Forgas Affect Infusion Model or the Somatic Marker or other psychology literature. It just reported there is an effect of full moon on investor behaviour. That’s all. No robust discussion.

Interestingly, I found a working paper of Matthew Rabin entitled “A Perspective on Psychology and Economics”. The flow is very interesting. It starts with the potential of behavioural economics in the future, then the unrealistic assumption in mainstream economics where behavioural economics tries to fill in, and how we can use psychology to fill in the unrealistic economics assumption. Here is the review. Continue reading

Popular Books in Behavioural Economics

I search the popular books that related to behavioural economics. Some universities listed it as a must to read for students who really likes behavioral economics. I have some of it. It read around 11 out of 75 books that enlisted there. Seriously, I thought i already have a good coverage for behavioural economics. In the end, I just realized that I just read about 12% from LISTED popular books.

For those who are interested in behavioural economics, this is the list of popular books that a must to read. I made this list by summarizing from several lists. Fyi, the idea to list the book is coming from Prof. Rubinstein. He also has a list of must-a-read book. Just go to his website and you will find the same. He also has several downloadable books.


1.      Advances in Behavioral Economics by  Camerer, C.F., Loewenstein, G., and Rabin, M

2.      An Introduction to Behaviorial Economics by Wilkinson, N

3.      Animal Spirits: How Human Psychology Drives the Economy, and Why it Matters for Global Capitalism by Akerlof, G.A. & Shiller, R.J. Continue reading

List of Journals that cover behavioural

It was a frustating to find a good journal for behavioural paper. Based on my experience, behavioural science in economics has limited journals. If it is sent to journals in finance, it will be rejected as it is not that finance. If it is sent to business one, it will be rejected because it is too finance. Another issue is if the paper was a single country, it will be very hard to be accepted.

Indeed, there are several journals that still accepting behavioural finance paper. But it will be very hard as most of are tier 1 or 2 journals. I compiled the journal that accepting behavioural finance, if you have others, please share. Continue reading

What you do not know about research publication: A note for education minister

Hi! I wrote this opinion after receiving shocking news from Indonesia, my homecountry. The minister of education made a regulation that all students, including undergraduate students, have to publish! It became a hot discussion among us in the room (because many of my friends are lecturers in Indonesia public University). It published in Jakarta Post.

You can read the article here or directly from the link: http://www.thejakartapost.com/news/2012/02/18/what-you-do-not-know-about-research-publication-a-note-education-minister.html Continue reading