Emotion decoding accuracy (EDA) plays a central role within the emotional intelligence (EI) ability model. The EI-ability perspective typically assumes personality antecedents and social outcomes of EI abilities, yet, traditionally, there has been very limited research to support this contention. The present paper argues that the way in which EDA has been conceptualized and operationalized in EI research has ignored developments in social perception theory and research. These developments point, on one hand, to the importance of embedding emotion expressions in a social context and, on the other, to reformulating the definitions of emotion decoding accuracy. The present paper outlines the importance of context in the framework of a truth and bias model of the social perception of emotions (Assessment of Contextualized Emotions, ACE) for EI abilities.