Kirzner (1978) argues that the closed-ended nature of standard economic models hides from view two important types of regulatory consequences: forgone innovation and superfluousinnovation. Benson (2004) elaborates on Kirzner’s argument and points out that to actually understand the full impact of regulations, we need to adopt evolutionary, open-ended models. While we might walk away from Kirzner thinking that maybe regulations prevent emergence of otherwise valuable innovations, the novel notion of homo tinkerus, and the use of open-ended models in general, add confidence to this concern. This suggests that viewed from the perspective of open-ended modeling, regulations restrict the range of entrepreneurial experimentation and erase opportunities for learning and adaptation.