Abstract: We conducted a literature review to examine the functional significance of the error positivity (Pe), an error-related electrophysiological brain potential often observed in combination with the error negativity (Ne). The review revealed many dissociations between documented effects on the Ne and Pe, suggesting that these components reflect different aspects of error processing. We found little support for the proposed hypotheses that the Pe is associated with the affective processing of errors or with posterror behavioral adaptation. Some support was found for the hypothesis that the Pe reflects conscious recognition of an error. Finally, we discuss the notion that the Pe may reflect a P3b associated with the motivational significance of the error. We conclude that more research is needed to test predictions of the various Pe hypotheses, and that more rigorous investigation of the neural generators of the Pe may contribute to a better understanding of the neurocognitive processes involved in error monitoring.

Dissociable Components of Error Processing