Victoria Medvec, Scott Madey, and Thomas Gilovich's (1995) experiment about happiness after Olympic performances described in your text illustrate counterfactual thinking concepts.
Counterfactual thinking is a psychological concept that involves the human tendency to create possible alternatives to life events that have already occurred. Something that contradicts what actually happened. Counterfactual thinking is, as the saying goes, "against the facts."
Counterfactual thinking describes what people think has led to a result. For example, the idea, "If I hadn't eaten so many potato chips, I wouldn't be sick now" implies that eating too many potato chips makes me feel sick.
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