and its risk states. Because event-related potentials (ERPs) trace the sequence of information processing by indexing neuronal activity, ERP components (e.g., N1, P2, P3), time-locked to the onset of sensory events, reflect brain activity representative of the underlying neurophysiologic processes associated with successive stages of stimulus information processing. These characteristics, in combination with their cost-effectiveness and development of advanced data analytic techniques, have been recognized as offering unique opportunities to identify and study translational biomarkers in schizophrenia (e.g., Javitt et al., 2008).