While EEG records the ongoing electrical activity of the brain, ERPs are time-locked voltage fluctuations in the brain in response to a sensory, motor, or cognitive event, and are extracted from a set of EEG trial epochs by means of filtering and signal averaging [51]. The amplitude (or the voltage measure) of an ERP component has been related to the neural resources available to process a stimulus or event [52], while the latency (or the time measure with respect to the stimulus) reflects stimulus/event processing time. Further, each ERP component has been attributed to specific functions based on the type, modality, and cognitive specificity of the task employed. The most studied and popular ERP component is the so-called P3 or P300, a large positive deflection that occurs between 300–700 ms after the stimulus onset and is related to its significance and not its physical features [53]. Across numerous ERP studies in alcoholism, the robust and consistent finding is that alcoholics and their high-risk offspring show reduced P3 amplitude across a variety of tasks and modalities (see [42,54] for reviews). Furthermore,
