The effect of framing is well established: Decision makers' preferences are influenced by how outcomes or attributes are phrased. In the financial domain, individuals often make decisions for themselves and for others. Therefore, decisions in a two-person context with the outcome equally allocated can be framed in two ways defined as theallocation framing: (1) self-allocation frame: making a decision for oneself, with half the payoffs shared by another person; and (2) other-allocation frame: making a decision for the other person and sharing half the payoffs. The results of six studies provided consistent evidence that people are more risk seeking in the self-allocation frame than in the other-allocation frame, and the effect was only noteworthy in the gain domain-not the loss domain. Our findings on allocation framing provide a meaningful contribution to studies of self-other decision making.