Two experiments investigated criterion setting and metacognitive processes underlying the strategic regulation of accuracy on the Scholastic Aptitude Test (SAT) using type-2 signal detection theory (SDT). In Experiment 1, report bias was manipulated by penalizing participants either 0.25 (low incentive) or 4 (high incentive) points for each error. Best guesses to unanswered items were obtained so that type-2 signal-detection indices of discrimination and bias could be calculated. The same incentive manipulation was used in Experiment 2, only the test was computerized, confidence ratings were taken so that receiver-operating characteristic (ROC) curves could be generated, and feedback was manipulated. The results of both experiments demonstrated that SDT provides a viable alternative to Koriat and Goldsmith’s (1996c) framework of monitoring and control and reveals information about the regulation of accuracy that their framework does not. For example, ROC analysis indicated that the threshold model implied by formula scoring is inadequate. Instead, performance on the SAT should be modelled with an equalvariance, Gaussian, type-2, signal-detection model
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