Our framework unifies competing theories and explains individual differences in the decoy effect.

We show that the decoy effect can emerge through comparison sequence and choice-induced value changes. When choosing increases an option's subjective value (and this varies by person), the order in which you compare options determines when the decoy effect emerges.

Next: Lauren Treiman developed a Frame Selection Task, where people choose how risky choices are framed. She shows that people have frame preferences and that they align with their risk preferences: risk-seeking participants prefer the loss frame more, thus facilitating their risky inclination.