Academic Perspectives on Innovation and Cost Leadership Michael Schrage Research Affiliate, MIT Sloan School Center for Digital Business Michael Schrage is a Research Affiliate at the MIT Sloan School Center for Digital Business. Michael explores how the �behavioral economics� of iterative modeling, collaborative design and �experimentation risk� shape innovation investment in the enterprise. He's been a contributor on these themes to the Harvard Business Review, Sloan Management Review, strategy+business, the Financial Times, Technology Review, IEEE Software, CIO magazine and other publications. A senior advisor to MIT's Security Studies Program and formerly co-director of the MIT Media Lab's eMarkets Initiative, Michael is also author of �Serious Play� [Harvard Business School Press 2000] and �Shared Minds� [Random House 1990] - books that examine the economics and ethologies of collaboration and design innovation in organizations via the prototypes and simulations they build. Michael has run workshops and taught executive education classes on �innovation risk management� at MIT, Instituto de Empresa, Stanford, Wharton, Kellogg and Sweden's Royal Institute of Technology. His advisory work focuses on how organizations can cost-effectively boost returns on their innovation investments. His emphasis on the design and implementation of strategic and just-in-time business experimentation is at the core of several corporate innovation initiatives. Michael has worked closely with firms such as Microsoft, Mars, PriceWaterhouseCoopers, Google, NASDAQ, Siemens, SAS, Intel, BP and Wells Fargo on these issues. Formerly on Ticketmaster's board, he helps oversee a joint Accenture/Yale Millstein Center research initiative on the role of technology in improving corporate governance.