Feedback ERN (fERN) and frontal midline theta have both been proposed to index a dopamine-like reinforcement learning signal in anterior cingulate cortex (ACC). We investigated these proposals by comparing fERN amplitude and theta power with respect to their sensitivities to outcome valence and probability in a previously collected EEG dataset. Bayesian model comparison revealed a dissociation between the two measures, with fERN amplitude mainly sensitive to valence and theta power mainly sensitive to probability. Further, fERN amplitude was highly correlated with the portion of theta power that is consistent in phase across trials (i.e., evoked theta power). These results suggest that although both measures provide valuable information about cognitive function of frontal midline cortex, fERN amplitude is specifically sensitive to dopamine reinforcement learning signals whereas theta power reflects the ACC response to unexpected events.

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Reward-related feedback stimuli have been observed to elicit a burst of power in the beta frequency range over frontal areas of the human scalp. Recent discussions have suggested possible neural sources for this activity but there is a paucity of empirical evidence on the question. Here we recorded EEG from participants while they navigated a virtual T-maze to find monetary rewards. Consistent with previous studies, we found that the reward feedback stimuli elicited an increase in beta power (20–30 Hz) over a right-frontal area of the scalp. Source analysis indicated that this signal was produced in the right dorsolateral prefrontal cortex (DLPFC). These findings align with previous observations of reward-related beta oscillations in the DLPFC in non-human primates. We speculate that increased power in the beta frequency range following reward receipt reflects the activation of task-related neural assemblies that encode the stimulus-response mapping in working memory.