Bronze Medalists are happier than Silver Medalists - Basic Prospect Theory
Today Indian hockey team won the bronze medal, re-writing history after having won an Olympic medal after 41 years. It indeed is a time to rejoice for the entire nation. Consequently, the Prime Minister of India, Mr Modi dialled the Indian hockey team's captain, just post the match to congratulate him. Footages of this call had even been trending on Twitter today. If you hear the telephonic conversation carefully, the PM had said to the captain during the call that his (captain's) voice was dull when India had lost the semi-final match but post-winning bronze his (captain's) voice feels richly enthusiastic. Indeed India did win a medal but simultaneous I believe this response indicates an important psychological feature about humans, that is, how we react to our finishes in competitive events. Investigating into this issue I found that actually studies have been done by psychologists in this area. Specifically, Psychologists Victoria Medevec and Thomas Gilovich of Cornell a