Complex Dynamic Analysis for a Rent-Seeking Game with Political Competition and Policymaker Costs

Xiuqin Yang (), Feng Liu () and Hua Wang
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Xiuqin Yang: School of Education, Minzu University, Beijing 100081, China
Feng Liu: School of Automation, China University of Geosciences, Wuhan 430074, China
Hua Wang: Department of Mechanical Engineering, Boston University, Boston, MA 02215, USA

Mathematics, 2023, vol. 11, issue 21, 1-18

Abstract: This paper investigates the dynamics of rent-seeking games that include political competition and policymaker cost model. The local asymptotic stability of multiple equilibrium points and Nash equilibrium points are studied. In the rent-seeking model, the existence and stability of Flip bifurcation and Neimark–Sacker bifurcation are examined, and the corresponding theorems and conditions are derived. The theoretical conclusions of the paper are verified by numerical simulations with different parameters. The simulation graphics show that the rent-seeking game model exhibits rich dynamic behaviors, such as multi-periodic orbits, Flip bifurcation, Neimark–Sacker bifurcation, and chaotic sets.

Keywords: stability; rent-seeking games; flip bifurcation; Neimark–Sacker bifurcation (search for similar items in EconPapers)
JEL-codes: C (search for similar items in EconPapers)
Date: 2023
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