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We employ a nonequilibrium energy balance and carrier rate equation model based on microscopic semiconductor theory to describe the quantum-dot (QD) laser dynamics under optical injection and time-delayed feedback. The model goes beyond typical phenomenological approximations of rate equations, such as the α -factor, yet allows for a thorough numerical bifurcation analysis, which would not be possible with the computationally demanding microscopic equations. We find that with QD lasers, independent amplitude and phase dynamics may lead to less complicated scenarios under optical perturbations than predicted by conventional models using the α -factor to describe the carrier-induced refractive index change. For instance, in the short external cavity feedback regime, higher critical feedback strength is actually required to induce instabilities. Generally, the α -factor should only be used when the carrier distribution can follow the QD laser dynamics adiabatically.