We study a communication game between an informed sender and an uninformed receiver with repeated interactions and voluntary transfers. Transfers motivate the receiver's decision‐making and signal the sender's information. Although full separation can always be supported in equilibrium,...

I develop a theory of knowledge sharing in organizations where coordinated activity requires shared knowledge, and knowledge sharing is local and costly. Because knowledge sharing is local, knowledge diffuses gradually across an organization. Because knowledge sharing is costly, diffusion may...