It depends on why there is an audience. Is the audience there to give the actors feedback, or is it to provide laughing sounds, or to sell tickets?

In terms of study, do people laugh more or less when a laugh track is included? I know that a laugh track is an audible clue that something is happening. There are things I have watched where I did not realize a joke was occurring until I heard the laugh track.

That being said, if I think about a funny movie, it would sound absurd with a laugh track. But stand-up comedy almost needs laughing. My hunch is that the format probably dictates the laugh track. Late night comedy, talk shows, family sitcoms, and game shows seem off without an audience. If there is none, my guess is that one will be simulated.