In this paper, we describe our approach to the investigation of cholinergic modulation of human information processing. In a continuing series of studies from our laboratories, we have systematically examined the extent to which current psychological models of information processing provide an adequate framework for the interpretation of the modulatory effects of cholinergic agents on cognitive performance measures. We suggest that the data are consistent with the view of attention and memory as processes which operate through a common, limited capacity executive mechanism, rather than separable serial processes described in the traditional modular models of memory.