Writing notes on cryptography, it is useful to have an adjective to describe “the condition of something that can be simulated” and also to have an associated noun for the concept. Although such words are not to be found on the OED or the Webster, in theory, the adjective would be simulable, and that the noun would be simulability.
(Because simulate comes from the Latin verb simulare.)
Google, however, shows 17,500 hits for “simulatable” (mostly from cryptographers) and 7,040 hits for “simulable” (mostly from physicists), and an even wider gap in favor of “simulatability” over “simulability,” with a similar distribution of sources.
Score 1 for the physicists.
(p.s. The Webster list “simulative” as the adjective associated to verb simulate. So it should be uncontroversial to say “the simulative approach to defining security . . .”)