We present a new refinement for signalling games: the Introspective Equilibrium. It is based on both a procedure for beliefs formation -called Incentive Dominance- and a global consistence requirement, closely related to that of the Undefeated equilibrium of mailath, Okuno-Fujiwara and...

Game theory lacks an explanation of how players' beliefs are formed and why they are in equilibrium. This is the reason why it has failed to make significant advances with the problem of equilibrium selection even for quite simple games, as 2 x 2 games with two strict Nash equilibrium. Our paper...