Although it seems obvious that our feelings color our perception and future expectations (just think of the effects of the rose-tinted glasses), systematic research on this topic is still missing. The goal of our project is to investigate the influence of mood on expectations, mainly in context of performance related consequences. In particular we will compare five different mood states, i.e. neutral, joy, serenity, anger and sadness. To examine them in a controlled way we will apply a specific mood induction technique to manipulate deliberately the current mood state of our participants: We will use guided imagery to make the participant relive a past memory episode “with their minds eyes” as vividly as possibly, which leads to a change in mood. After a controlled validation of this technique for the intended mood states, it will be used to investigate effects of mood on expectation and anticipation of reward or punishment. Therefore we will use two tasks while electroencephalography (EEG) is conducted. The first one focuses on processing of positive vs. negative and expected vs. unexpected performance feedback. The second one allows us to compare the motivation to gain extra money vs. avoid monetary losses. EEG offers the possibility to understand the neurophysiology and time-course of feedback processing, and eventually interrogate these data in order to assess when and how mood shapes this process, specifically in the context of reward vs. punishment expectation.