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The differences between self-reported and observed emotion have only marginally been investigated in the context of speech-based automatic emotion recognition. We address this issue by comparing self-reported emotion ratings to observed emotion ratings and look at how differences between these two types of ratings affect the development and performance of automatic emotion recognizers developed with these ratings. A dimensional approach to emotion modeling is adopted: the ratings are based on continuous arousal and valence scales. We describe the TNO-Gaming Corpus that contains spontaneous vocal and facial expressions elicited via a multiplayer videogame and that includes emotion annotations obtained via self-report and observation by outside observers. Comparisons show that there are discrepancies between self-reported and observed emotion ratings which are also reflected in the …