Subjective experience guides betting decisions beyond accuracy: evidence from a metamemory illusion

The goal of this research was to test whether subjective memory experiences drive accuracy regulation decisions above and beyond objective memory indices. In four experiments (n?=?115) subjective recollection (i.e., reporting “Remember” in the Remember-Know task) was dissociated from memory accuracy by manipulating retrieval during a two-alternative forced-choice recognition task: in the Match condition the distracter was a novel exemplar of the target (e.g., a studied and an unstudied toaster) and in the Non-match condition the distracter was a novel exemplar of another studied but untested item (e.g., a studied toaster and an unstudied birdhouse). Participants were more accurate on Match trials, but reported subjective recollection more frequently on Non-match trials. Critically, participants also bet more often on Non-match trials to the detriment of their score (Experiment 1). This pattern persisted when participants were additionally required to retrieve details about items (Experiment 2) and when confidence assessments were collected (Experiment 3). Finally, participants bet more on Non-match trials even when subjective judgments were not elicited, suggesting that the decision process does not require reporting on subjective experience (Experiment 4). These results indicate that subjective memory experiences guide decision-making independent of objective accuracy and thus are critical to accuracy regulation.