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

Author

Listed:
  • Xiuqin Yang

    (School of Education, Minzu University, Beijing 100081, China)

  • Feng Liu

    (School of Automation, China University of Geosciences, Wuhan 430074, China
    Engineering Research Center of Ministry of Education for Intelligent Technology of Earth Exploration, Wuhan 430074, China
    Hubei Key Laboratory of Advanced Control and Intelligent Automation for Complex Systems, Wuhan 430074, China)

  • Hua Wang

    (Department of Mechanical Engineering, Boston University, Boston, MA 02215, USA)

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.

Suggested Citation

  • Xiuqin Yang & Feng Liu & Hua Wang, 2023. "Complex Dynamic Analysis for a Rent-Seeking Game with Political Competition and Policymaker Costs," Mathematics, MDPI, vol. 11(21), pages 1-18, November.
    • Handle: RePEc:gam:jmathe:v:11:y:2023:i:21:p:4524-:d:1273284
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    References listed on IDEAS

    as
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    7. R. Kenneth Godwin & Edward J. López & Barry J. Seldon, 2006. "Incorporating Policymaker Costs and Political Competition into Rent-Seeking Games," Southern Economic Journal, John Wiley & Sons, vol. 73(1), pages 37-54, July.
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