Despite well-documented promises of peer assessment, it is still unclear how peer as-sessment works and what contributes to students\u2019 learning gains. In order to identify cognitive processes that lead to learning enhancement, this study examined 41 stu-dents\u2019 responses to online surveys and also their online written interactions when they participated in a peer assessment activity. Data analysis revealed that students were en-gaged in various learning processes in the phases of giving and receiving feedback. While students acknowledged that both phases contributed to their learning, a greater number of students indicated that they perceived more learning benefits from giving feedback rather than receiving feedback. Interpretations and implications were dis-cussed
