Framing effects are found when decisions are influenced by irrelevant aspects of the situation (e.g. when people focus on potential gains), according to which theory?

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Prospect theory, developed by Daniel Kahneman and Amos Tversky, explains how people make decisions under uncertainty, taking into account the psychological biases and heuristics that can affect their choices. It proposes that people evaluate potential gains and losses relative to a reference point, and that the way a decision problem is presented (i.e. framed) can influence their preferences and risk attitudes. Framing effects occur when two equivalent descriptions of a problem lead to different choices because they highlight different aspects, such as gains versus losses, certainty versus uncertainty, or frequency versus probabilities.

Framing Effects Are Found When Decisions Are Influenced by Irrelevant