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A Real-world What-Where-When Memory Test
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Memory Beliefs Drive the Memory Bias on Value-based Decisions.

Tehilla Mechera-Ostrovsky1, Sebastian Gluth2

  • 1Department of Psychology, University of Basel, Missionsstrasse 62a, 4055, Basel, Switzerland.

Scientific Reports
|July 14, 2018
PubMed
Summary
This summary is machine-generated.

People’s beliefs about their memory influence value-based decisions, leading to a bias favoring better-remembered options. This memory bias persists even when memory performance is accounted for, highlighting the role of beliefs in decision-making.

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Area of Science:

  • Cognitive Psychology
  • Neuroscience
  • Behavioral Economics

Background:

  • Value-based decisions rely on retrieving information from memory.
  • Previous research shows memory biases choices, favoring better-memorized options regardless of attractiveness.
  • The cognitive mechanisms underlying this memory bias are not fully understood.

Purpose of the Study:

  • To test the hypothesis that memory bias in value-based decisions stems from beliefs about memory performance.
  • To investigate the correlation between decision bias and the belief in value-dependent memory.

Main Methods:

  • A pre-registered study was conducted.
  • Examined the relationship between memory bias in value-based decisions and beliefs about memory performance.
  • Exploratory analyses assessed actual memory performance for attractive versus unattractive options.

Main Results:

  • A positive correlation was confirmed between the memory bias and the belief in value-dependent memory performance.
  • Memory performance was higher for more attractive options.
  • The memory bias persisted even after correcting for actual memory performance differences.

Conclusions:

  • Beliefs about memory significantly influence value-based decision-making.
  • While memory performance can be adaptive, the observed bias is not solely an artifact of unequal memory.
  • This study underscores the impact of beliefs on behavior and memory's role in decision processes.