The current study was designed to clarify the psychological functions most closely associated with frontal brain asymmetry. Electroencephalography (EEG) was recorded from 60 participants while they performed a delayed reaction time (RT) task that included manipulations of incentive, expectancy, and response. Significant alpha asymmetry effects were reflected in topographic differences across anterior EEG sites. Variations in monetary incentives resulted in parametric changes in anterior frontal alpha asymmetry. Manipulations of outcome expectancies were related to mid-frontal EEG changes that differed for men and women. Varied response requirements were related to central asymmetry patterns. Taken together, the findings suggest that regionally specific patterns of frontal asymmetry are functionally related to particular aspects of approach–withdrawal tendencies involved in the temporal guidance and regulation of goal-directed behavior.