Value-based decisions involve sequential sampling from memory

Abstract

Deciding between two equally appealing options can take considerable time. This observation has puzzled economists and philosophers, because more deliberation only delays the reward. Here we show that this seemingly irrational behavior is explained by the constructive use of memory. Using functional brain imaging in humans, we show that how long it takes to decide between two familiar food items is related to activity in the hippocampus, within specific regions shown to be associated with the retrieval of long-term memories. Moreover, we show that value is partially constructed during deliberation to resolve preference, and this constructive process changes behavior and brain responses. These results render memory as a supplier of evidence in value-based decisions, resolving a central paradox of choice.