When people are allowed freedom to volunteer or withhold information, they can enhance the accuracy of their memory reports substantially relative to forced-report performance. A theoretical framework addressing the strategic regulation of memory reporting is put forward that delineates the mediating role of metamemorial monitoring and control processes. Although the enhancement of memory accuracy is generally accompanied by a reduction in memory quantity, experimental and simulation results indicate that both of these effects depend critically on (a) accuracy incentive and (b) monitoring effectiveness. The results are discussed with regard to the contribution of meta-memory processes to memory performance, and a general methodology is proposed that incorporates these processes into the assessment of memory-accuracy and memory-quantity performance.