Since last century, the research of risk decision making has been the focus of academic research. With the deepening of the research on risk decision making, the scope and depth of the research on framing effect are also expanding. The main changes are as follows: the type analysis of framing effect has changed from singleness to diversity; The theoretical explanation of framing effect has expanded from economic theory to cognitive theory. The empirical research of framing effect has developed from simply verifying the universality of framing effect to focusing on the influencing factors of framing effect. The analysis of the internal mechanism of framing effect extends from cognitive mechanism to neural mechanism.