Prediction during language comprehension: Benefits, costs, and ERP components

► Prediction has fallen in and out of favor as a likely factor in comprehension. ► Benefits for confirmed predictions and costs for failed predictions are discussed. ► The N400 component of the ERP reliably indexes the benefits of semantic context. ► Late positive ERPs are more likely to reflect the costs of incorrect predictions. ► Parietal and frontal late positivities may index different sorts of cognitive costs.