For a two-choice response time (RT) task, the observed variables are response speed and response accuracy. In experimental psychology, inference usually concerns the mean response time for correct decisions (i.e., MRT) and the proportion of correct decisions (i.e., P c ). The immediate problem is that MRT and P c are in a trade-off relationship: Participants can respond faster, and hence decrease MRT, at the expense of making more errors, thereby decreasing P c (see, e.g., Pachella, 1974;Schouten & Bekker, 1967;Wickelgren, 1977). This so-called speed-accuracy trade-off has for a long time bedeviled the field. Consider 2 participants in an experiment, Amy and Rich. Amy's and Rich's performance is summarized by MRT 0.422 sec, P c .881, and MRT 0.467 sec, P c .953, respectively. Amy responds faster than Rich, but she also commits more errors. Thus, it could be that Amy and Rich have the same ability, but Amy risks making more mistakes. It could also be that Amy's ability is higher than that of Rich, or vice versa. If we only consider MRT and P c , there appears to be no way to tell which of these three possibilities is in fact true. Now consider George, whose performance is characterized by MRT 0.517 sec, P c .953. George responds more slowly than Rich, whereas their error rates are identical. An explanation solely in terms of the speed-accuracy trade-off cannot account for this pattern of results, and therefore most researchers would confidently conclude that Rich performs better than George. Unfortunately, if we only consider MRT and P c , it is impossible to go beyond these conclusions in terms of ordinal relations and quantify how much better Rich does than George. Note that the same arguments would hold if the example above had been in terms of 1 participant who responds in three different experimental conditions presented in three separate blocks of trials. In this case, comparison of performance across the different conditions is complicated by the fact that task performance may be simultaneously influenced by task difficulty and response conservativeness.In sum, both MRT and P c provide valuable information about task difficulty or subject ability, but neither of these variables can be considered in isolation. When MRT and P c are considered simultaneously, however, it is not clear how to weigh their relative contributions to arrive at a single index that quantifies subject ability or task difficulty.A way out of this conundrum is to use cognitive process models to estimate the unobserved variables assumed to underlie performance in the task at hand. The field of research that uses cognitive models for measurement has been termed cognitive psychometrics (Batchelder, 1998;Batchelder & Riefer, 1999;Riefer, Knapp, Batchelder, Bamber, & Manifold, 2002), and similar approaches in other paradigms have included those of Busemeyer and Stout (2002);Stout, Busemeyer, Lin, Grant, and Bonson (2004);and Zaki and Nosofsky (2001). Here, the focus is on the diffusion model for two-choice RT tasks (see, e.g., Ratcliff, 1978...