Abstract
A slight difference in the message formulation may lead to a different behavior of the recipient. This phenomenon is called the framing effect. The article describes three types of framing: the risky choice framing effect, the attribute framing effect and the goal framing effect. It has been shown that the phenomenon responsible for framing effect is, commonly occurring in humans, a strong loss aversion. Examples of the implementation of framing in various economic areas, such as price policy, taxation, or negotiation, are discussed.
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