We combined a feedback-based learning task with a recognition memory paradigm to investigate how reward-based learning affects the event-related potential (ERP) correlates of recognition memory in younger and older adults. We found that positive, but not negative learning improves memory and results in an increased early ERP old-new effect, which is typically associated with familiarity-based memory. This indicates that reward-based learning supports a fast and relatively automatic memory retrieval process. Furthermore, we found age-related impairments in reward-based learning, whereas memory for the learned information was intact in the elderly, suggesting that declarative memory might be less affected by aging.
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