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

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.