Every instant of perception depends on a cascade of brain processes calibrated to the history of sensory and decisional events. In the present work, we show that human visual perception is constantly shaped by two contrasting forces, exerted by sensory adaptation and past decisions. In a series of experiments, we used multilevel modelling and cross-validation approaches to investigate the impact of previous stimuli and responses on current errors in adjustment tasks. Our results revealed that each perceptual report is permeated by opposite biases from a hierarchy of serially dependent processes: low-level adaptation repels perception away from previous stimuli; high-level, decisional traces attract perceptual reports toward previous responses. Contrary to recent claims, we demonstrated that positive serial dependence does not result from continuity fields operating at the level of early visual processing, but arises from the inertia of decisional templates. This finding is consistent with a Two-process model of serial dependence in which the persistence of read-out weights in a decision unit compensates for sensory adaptation, leading to attractive biases in sequential responses. We propose the first unified account of serial dependence in which functionally distinct mechanisms, operating at different stages, promote the differentiation and integration of visual information over time.not peer-reviewed)