Graceful forgetting: Memory as a process

A rational theory of memory is proposed to explain how we can accommodate unbounded sensory input within bounded storage space. Memory is stored as statistics, organized into complex structures that are constantly summarized and compressed to make room for new input. This process, driven by space constraints, is guided by heuristics that optimize the memory for future needs. Sensory input is rapidly encoded as simple statistics that are more slowly elaborated into more abstract constructs. This theory differs from previous accounts of memory by (a) its reliance on statistics, (b) its use of heuristics to guide the choice of statistics, and (c) the emphasis on memory as a process that is intensive, complex, and expensive. The theory is intended as an aid to make sense of our extensive knowledge of memory, and bring us closer to an understanding of memory in functional and mechanistic terms.