Abstract
This study examines the effects of emotional shocks on subjective well-being and the role social context plays in how shocks are experienced. Using data from the Behavioral Risk Factor Surveillance System (BRFSS), this paper uses an ordered logit model to estimate the effects of a local college football team's wins and losses on the life satisfaction of local citizens.
The analysis suggests that unexpected wins have positive effects on life satisfaction. The results are driven entirely by games played at the home stadium, indicating that the impacts of emotional shocks are larger if the experience is shared with other fans.
Moreover, the effects increase with the size of the stadium relative to the local population, suggesting that social context is likely to be the underlying factor. Surprisingly, no effects are found for cases of unexpected losses.