A neuroeconomic theory of memory retrieval

Isabelle Brocas and Juan D. Carrillo

Journal of Economic Behavior & Organization, 2016, vol. 130, issue C, 198-205

Abstract: We propose a theory of “optimal memory management” that unveils causal relationships between memory systems and the characteristics of the information retrieved. Our model shows that if the declarative memory is more accurate but also more costly than the procedural memory, then it is optimal to retrieve exceptional experiences with the former and average experiences with the latter. The theory provides other testable predictions: (i) decisions are closer to original experiences when the declarative memory is invoked, and (ii) the declarative memory is more likely to be invoked when the importance of recalling information accurately increases.

Keywords: Memory systems; Memory management; Declarative; Procedural; Neuroeconomic theory (search for similar items in EconPapers)
JEL-codes: D01 D83 D87 (search for similar items in EconPapers)
Date: 2016
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jeborg:v:130:y:2016:i:c:p:198-205

DOI: 10.1016/j.jebo.2016.07.009

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