Cognitive Aging and Decision Making in the Twilight of Mnemonic Uncertainty

Memory is both a powerful asset and a source of internal uncertainty in decision making.Cognitive changes across adulthood may amplify this internal (or epistemic) uncertainty,depending on the memory system or task involved. For instance, age-related declines in episodicand working memory likely increase mnemonic uncertainty and shape the strategies that peopleuse when making judgments or decision from memory. This article first discusses research onage-related differences in memory and decision making and then introduces a novel perspectivethat integrates findings from cognitive aging, decision science, and from metamemory research.A methodological framework is proposed to experimentally investigate mnemonic uncertaintyusing utility and computational models of value-based decision making. The approach enablesthe systematic quantification of mnemonic uncertainty and of the valuation of outcomes,providing a foundation for advancing our conceptual understanding of how these processes shapedecisions from memory.