Relatively late maturation of the dorsolateral prefrontal cortex, which is prominently involved in neural circuitry involved in judgment, decision making and impulse control, has prominently entered discourse affecting the social, legislative, judicial, parenting and educational realms. It is also consistent with a growing body of literature indicating a changing balance between earlier-maturing limbic system networks (the seat of emotion), and later maturing frontal systems. The frontal/limbic relationship is highly dynamic. Appreciating the interplay between limbic and cognitive systems is imperative for understanding decision making during adolescence. Psychological tests are usually conducted under conditions of “cold cognition”—hypothetical, low-emotion situations. However, real world decision making often occurs under conditions of “hot cognition”—high arousal, with peer pressure and real consequences. Neuroimaging investigations continue to discern the different biological circuitry involved in hot and cold cognition and are beginning to map how the parts of the brain involved in decision making mature.