that ORN and ORP could involve both evaluative/cognitive and emotional/affective processing (Kamarajan et al., 2009). Although it was argued that the ORN is functionally similar to the generic N2 component and does not have task-specific functions (Holroyd et al., 2008), our previous finding in a gambling paradigm indicated that ORN amplitude differed as a function of valence and amount (Kamarajan et al., 2009; Kamarajan et al., 2008), suggesting that ORN is functionally distinct from the generic N2 component observed in signal processing. Several studies of gambling tasks showed that the amplitude of the negative component analogous to N2 reflects activity that codes the ongoing evaluation of events in terms of favorable (i.e. gain, correct) or unfavorable (i.e. loss, error) outcomes (Gehring and Willoughby, 2002; Holroyd and Coles, 2002; Hajcak et al., 2006). Thus, it may be stated that the ORN may indicate the detection of a particular outcome and the ORP may reflect the conscious recognition/awareness for the valence or magnitude of the outcome. In a similar vein, the positive component analogous to P3, was found to be sensitive to both the quality (loss/gain) and quantity (larger/smaller) of the outcomes (Toyomaki and Murohashi, 2005; Kamarajan et al., 2009), which is
