This is a Lexicon entry: the mechanism, when it shows up, and the countermeasure. The full correction, with real-world cases and the audit prompt, hasn't been written yet.
Definition
The paradox in which gold medalists are often less happy than silver medalists - gold medalists compare themselves to a perfect ideal, while silver medalists compare themselves to bronze, feeling lucky.
When it shows up
Near-top achievers: Olympic silver medalists, runners-up, second-place finishers. The well-documented finding that silver medalists are often less happy than bronze.
Failure mode
Counterfactual comparison dominates. Bronze compares up to nothing (no medal) and feels grateful. Silver compares up to gold and feels like failure. The actual ranking is irrelevant; the nearest counterfactual drives the emotion.
Countermeasure
Notice the counterfactual your mind is using. Deliberately compare to the full distribution, not the nearest better outcome. The person below you matters as much as the person above.
Related concepts
Also connected in the mapRegret Aversion·Norm Theory·The Arrival Fallacy·Social Comparison Theory·The Hedonic Treadmill·The Tocqueville Paradox·Bonhoeffer’s Theory of Stupidity
Origin
Discovered by, 1995Victoria MedvecSocial psychologyFound bronze medallists are often happier than silver - counterfactual comparison.See in Origins →
Popularised byThomas GilovichPsychology · Cornell · b. 1954Showed how much we overestimate how much others notice us - the spotlight effect.See in Origins →Read next
Entry #621 of 631 in The Lexicon · see the full Lexicon