D. Nikolic, S. Haeusler, W. Singer, and W. Maass
 
It is currently not known how distributed neuronal responses in early visual
  areas carry stimulus-related information. We made multi-electrode recordings
  from cat primary visual cortex and applied methods from machine learning in
  order to analyze the temporal evolution of stimulus-related information in
  the spiking activity of large ensembles of around 100 neurons. We used
  sequences of up to three different visual stimuli (letters) presented for 100
  ms and with intervals of 100 ms or larger. Most of the information about
  visual stimuli extractable by sophisticated methods of machine learning, i.e.
  support vector machines with non-linear kernel functions, was also
  extractable by simple linear classification such as can be achieved by
  individual neurons. New stimuli did not erase information about previous
  stimuli. The responses to the most recent stimulus contained about equal
  amounts of information about both this and the preceding stimulus. This
  information was encoded both in the discharge rates (response amplitudes) of
  the ensemble of neurons and, when using short time-constants for integration
  (e.g., 20 ms), in the precise timing of individual spikes (<= 

 ms), and
  persisted for several 100 ms beyond the offset of stimuli. The results
  indicate that the network from which we recorded is endowed with fading
  memory and is capable of performing online computations utilizing information
  about temporally sequential stimuli. This result challenges models assuming
  frame-by-frame analyses of sequential inputs.