Reward prediction error (RPE) is an important signal in outcome evaluation. Both the valence and salience dimensions of RPE are represented in the brain. However, the function of RPE signals may differ in the light of whether they are relevant to action value updating (performance PE) or pure reward consumption (consumptive PE). Feedback-related negativity (FRN) is an electrophysiological index of RPE. In the present study, we strived to reveal in the EEG the cortical activities, especially the responses of the system underlying the FRN, induced by the performance and consumptive PE. In a probabilistic learning task, the performance (correct or wrong) and consumption (monetary outcomes) information were presented successively in two feedback phases in each trial. Infrequent small or large monetary quantities were displayed in addition to the frequent medium outcome in the gain/loss context (corresponding to correct/wrong) to produce the consumptive PEs. The results showed that the FRN was sensitive to the performance PEs, but not to the consumptive PEs, and manifested as a bivalent PE encoder (though less sensitivity in negative feedback). The P3a and P3b were larger in ‘wrong’ than in ‘correct’ trials, but not modulated by quantified PEs. Whereas in the consumption phase, the early posterior negativity (EPN) and late positive potential (LPP) which are associated with attention and emotional processing were induced by the salience of the consumptive PEs. Thus, the performance and consumptive PE can elicit distinct responses which may overlap in the EEG for feedback containing the two kinds of contents.