Reward expectations – one’s prediction about the likelihood of future outcomes - play a central role in shaping the satisfaction derived from those outcomes. Most existing research treats expectations as static, assuming they remain fixed in time. However, real-life expectations are often dynamic, fluctuating as new information becomes available. For example, during a soccer game, your expectations of seeing your team winning will likely rise and fall as the game unfolds. In the main part of this talk, I will present a series of studies demonstrating that human expectations can be tracked at sub-second timescales. Using slot machines as a case study, we leverage the continuous deceleration of the reels to elicit moment-by-moment fluctuations in rewardexpectations. To capture these dynamics, we take complementary approaches: we use the high temporal resolution of electroencephalography (EEG) to track neural signatures of evolving expectations, and we develop a novel behavioral paradigm (“Slot or Not”) designed to measure changes in expectations via betting behavior. Across four studies, we show that expectations fluctuate continuously and can be tracked both behaviorally and neurally. Extending these findings, a subsequent intracranial study shows that the human orbitofrontal cortex (OFC) encodes the moment-by-moment changes of reward expectations. In the second part of this talk, I will return to the relationship between expectations andsatisfaction. If expectations shape satisfaction, and if they are best conceptualized as dynamic trajectories rather than static quantities, a key question arises: does the trajectory leading up to an outcome influence how that outcome is evaluated? I will outline a new research direction aimed at formalizing this relationship using computational modeling. This is ongoing work, and I welcome feedback on how best to formalize these ideas. Finally, I will discuss potential extensions of this framework to psychopathology, asking whether alterations in dynamic expectations may characterize conditions such as Major Depressive Disorder and Gambling disorder. Together, this work introduces a new framework for studying expectations as dynamic processes, offering a richer understanding