Matlab provides two mechanisms for signaling that something has gone wrong: the error
function and the language\'s exception-handling mechanisms MException
There is some more useful information on this thread on MATLAB Answers.
The answer says that error is much older and that MException is newer and more flexible. Error has been modified to create an MException.
Error is considered easier to use and targetted at MATLAB end users from the Scientific and Engineering community. MException is more advanced (in that ME objects can be modified and rethrown) and is targeted at the software development community.