Episodic Memory Retrieval Affects the Onset and Dynamics of Evidence Accumulation during Value-based Decisions

Area of Science:

• Neuroeconomics
• Cognitive Neuroscience
• Decision Science

Background:

• Value-based choices are fundamental to economic behavior.
• Everyday decisions often involve recalling product information from memory, not just direct perception.
• Understanding memory's role in decision-making temporal dynamics is crucial.

Purpose of the Study:

• To investigate how relying on internal memory representations impacts the timing of cognitive and neural processes during value-based choices.
• To compare decision-making dynamics between visually presented goods and those recalled from memory.

Main Methods:

• Participants engaged in a remember-and-decide task involving purchasing decisions between money and snack items.
• Electroencephalography (EEG) was used to record neural activity.
• Behavioral data (reaction times, choice consistency) and drift-diffusion modeling were employed.

Main Results:

• Choice consistency was similar for visually presented and memory-recalled items.
• Reaction times were significantly longer for memory-recalled items.
• Drift-diffusion modeling revealed longer non-decision times and altered evidence accumulation (lower rate, higher threshold) in memory trials.
• EEG data showed a delayed lateralized readiness potential, supporting prolonged non-decision times.

Conclusions:

• Relying on internal memory representations during value-based decisions prolongs both decision and non-decision processes.
• Memory retrieval introduces cognitive and neural delays affecting the speed and dynamics of choice formation.
• This highlights the significant impact of memory recall on the temporal aspects of economic decision-making.