The goal of any process tracing method is to observe cognition in action, given technological constraints. Utilizing electroencephalography (EEG) as a process tracing method is relatively new in the field of decision making, however, in large part due to the complexity of the decision-making process. There are many ways of studying EEG activity, two particular approaches have become popular for studying the neural correlates of the decision-making process: spectral analysis and Event Related Potentials. The chapter provides a broad description of the value added by examining both of these process tracing methods, contributions that have been made to the field of decision making and a brief future outlook for additional process tracing techniques using EEG and Event Related Potentials (ERP). ERPs represent analysis of EEG in the time domain due to the preservation of detailed temporal dynamics in ERP waveforms, which can be observed down to the millisecond.