Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/259686 
Year of Publication: 
2022
Citation: 
[Journal:] Journal of Innovation and Entrepreneurship [ISSN:] 2192-5372 [Volume:] 11 [Issue:] 1 [Article No.:] 23 [Publisher:] Springer [Place:] Heidelberg [Year:] 2022 [Pages:] 1-15
Publisher: 
Springer, Heidelberg
Abstract: 
NK models are agent-based simulations of market evolution generated through new entry and firm innovation, and are often focused on better understanding complex interdependencies in organizational phenomena. We provide a counterpoint to the mostly optimistic descriptions of the advantages and of the requirements for these fitness-landscape-based analyses. We do so by offering a comprehensive list of limitations of that modelling technique as well as a critical analysis of two recent applications of the NK model - one of a theory-testing application and one of a theory-building application. Our analysis reveals that when care is not taken to capture the essential parts of a phenomenon, the NK approach may be unnecessary at best, and misleading at worst. We discuss the implications of these analyses and update past suggestions for future uses of NK simulations in organizational research.
Subjects: 
NK models
Organizational science
Simulations
Theory building
Theory testing
JEL: 
C53
C61
C63
C73
D02
D21
Persistent Identifier of the first edition: 
Creative Commons License: 
cc-by Logo
Document Type: 
Article

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