Using computational and mathematical modeling, this study explores the tension between too little and too much structure that is shaped by the core tradeoff between efficiency and flexibility in dynamic environments. Our aim is to develop a more precise theory of the fundamental relationships...

Simulation is an important method, but its link to theory development remains unclear and even controversial. Our purpose is to clarify when and how to use simulation methods in theory development. First, we develop a roadmap for conducting theory development using simulation methods. It ranges...