Treffer: The Programming of Programming: When Simulations Are Not the Right Tool.

The article discusses the appropriateness of using simulations in academic research, questioning when simulations are the right tools for theorizing but emphasizing their suitability when data are unavailable or mathematical models are intractable. Using an example that models entrepreneurial lean-startup philosophy the author focuses on a specific simulation-based study by Chen, Elfenbein, Posen, and Wang, which explores the optimization of experiments and pivoting in entrepreneurial decision-making. Several omissions and limitations in the simulation are highlighted, including the lack of consideration for competition, the oversimplified representation of upside optionality, the absence of heterogeneity in experiments and pivots, and the neglect of endogeneity in the experimentation period. The article concludes by urging researchers to justify the use of simulations and apply them more carefully, considering their relative strengths and potential limitations.

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