People often make decisions on the basis of mental accounting.One facet of this accounting is making a decision based on the way a problem was posed.This is called ________.

Question

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Framing refers to the way a problem or situation is presented, and people often make decisions based on this framing. For example, people may be more likely to choose a product described as "90% lean" compared to one described as "10% fat," even though these descriptions are equivalent. This is an example of how framing can influence decision making. The other options mentioned, such as the sum-cost fallacy, loss aversion, and positioning, are all related to decision making biases but do not refer specifically to the way a problem is framed.

People Often Make Decisions on the Basis of Mental Accounting