<p>Individuals with low self-esteem are highly reactive to negative feedback, compared to individuals with high self-esteem. Whether there is a difference in money and social anticipation and feedback (reward and punishment) between individuals with different levels of self-esteem is still unclear. The present study aimed to investigate the effect of self-esteem levels on outcome anticipation and feedback and its underlying cognitive neural mechanism using event-related potentials (ERPs). Twenty-three participants with high self-esteem and twenty-one participants with low self-esteem completed a gambling task involving both physical and virtual feedback. In the task, a cue (money, score or no reward symbol) was presented. Then participants were required to make a pre-selection to select one of the two boxes, which corresponded to either a reward or punishment in the subsequent feedback phase. The results showed that individuals with low self-esteem triggered larger feedback-related negativity (FRN) than those with high self-esteem, regardless of whether the feedback was related to (money or score) reward or punishment. Moreover, a larger FRN was observed for score feedback than money feedback. These findings suggest that the individuals with low self-esteem might have increased reactivity on outcome feedback (reward or punishment) than the ones with high self-esteem.</p>