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The silver medal paradox – The daily blog of behavioral and cognitive economics

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The silver medal paradox – The daily blog of behavioral and cognitive economics

Why Silver Medal Winners Are Sad

Your counterfactual could determine whether you are happy with your Olympic medal. For silver winners it’s upward while bronzers look downward. Silver Medal Sadness. Called the silver medal paradox, silver medal winners tend to be less happy than the athletes who win bronze. In one paper, psychologists used shots of 20 silver and 15 bronze 1992 medal winners. Study participants then rated the expressions on a 1 to 10, agony to ecstasy scale in which 1 is agony and 10 is ecstasy. The mean for the silver medalists was 4.8 whereas bronze was 7.1. Measured another time, the silver average was 4.3 and bronze, 5.7. ….[READ]

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