Biological memories have a number of unique features, including (1) hi
erarchical, reciprocally interacting layers, (2) lateral inhibitory in
teractions within layers, and (3) Hebbian synaptic modifications. We i
ncorporate these key features into a mathematical and computational mo
del in which we derive and study Hebbian learning dynamics and recall
dynamics. Introducing the construct of a feasible memory (a memory tha
t formally responds correctly to a specified collection of noisy cues
that are known in advance), we study stability and convergence of the
two kinds of dynamics by both analytical and computational methods. A
conservation law for memory feasibility under Hebbian dynamics is deri
ved. An infomax net is one where the synaptic weights resolve the most
uncertainty about a neural input based on knowledge of the output. Th
e infomax notion is described and is used to grade memories and memory
performance. We characterize the recall dynamics of the most favorabl
e solutions from an infomax perspective. This characterization include
s the dynamical behavior when the net is presented with external stimu
li (noisy cues) and a description of the accuracy of recall. The obser
ved richness of dynamical behavior, such as its initial state sensitiv
ity, provides some hints for possible biological parallels to this mod
el.