The phenomenon where identical information leads to different decisions depending on how it is presented or 'framed.' The same facts can seem more or less attractive based on whether they emphasize gains or losses, positive or negative aspects.
Developed by Kahneman and Tversky as part of prospect theory in the 1980s, drawing from the metaphor of a picture frame that determines what viewers focus on. The concept revolutionized understanding of decision-making by showing that rational choice depends heavily on presentation context.
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