Which of the following does NOT fall under inertial effects?

The framing effect is indeed not considered an inertial effect. Inertial effects pertain to behavioral economics phenomena that illustrate how individuals tend to stick with their current choices or preferences and resist change, even in the face of new information.

The status quo effect, endowment effect, and disposition effect all demonstrate this resistance to change:

• The status quo effect suggests that people prefer things to remain the same rather than change, which highlights their inertia in decision-making.

• The endowment effect indicates that individuals assign more value to items they own compared to items they do not own, often leading them to hold onto possessions longer than may be rational, showcasing inertia in their attachment to owned items.

• The disposition effect reflects investors' tendency to sell winning investments too early while holding onto losing investments too long, revealing an inertia in their reluctance to realize losses.

In contrast, the framing effect relates to the way information is presented and how that can alter perceptions and decision-making. It does not directly relate to inertia but rather to cognitive biases in evaluating options based on context or wording, making it distinct from the concepts of resistance to change illustrated by the other effects.