Although the prevalent view of emotion and decision making is derived from the notion that there are dual systems of emotion and reason, a modulatory relationship more accurately reflects the current research in affective neuroscience and neuroeconomics. Studies show two potential mechanisms for affect's modulation of the computation of subjective value and decisions: 1) Incidental affective states may carry over to the assessment of subjective value for an unrelated decision, and 2) the emotional reaction to the choice itself may be integral to the value calculation. In this talk, I will review recent research from my lab characterizing the modulatory relationship be between affect and decisions. This research suggests that the neural mechanisms mediating the relation between affect and choice vary depending on which affective component is engaged and which decision variables are assessed. This research suggests that a detailed and nuanced understanding of emotion and decision making requires characterizing the multiple modulatory neural circuits underlying the different means by which emotion and affect can influence choices.