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The differential equation describing exponential growth is
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(1)
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This can be integrated directly
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(2)
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to give
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(3)
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where . Exponentiating,
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(4)
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This equation is called the law of growth, and the quantity in this equation
is sometimes known as the Malthusian
parameter.
Consider a more complicated growth law
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(5)
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where is a constant. This can also be
integrated directly
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(6)
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(7)
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(8)
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Note that this expression blows up at . We are given
the initial condition that
, so .
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(9)
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The in the denominator
of (◇) greatly suppresses the growth in the long run compared to the simple
growth law.
The (continuous) logistic equation,
defined by
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(10)
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is another growth law which frequently arises in biology. It has solution
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(11)
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Steinhaus, H. Mathematical Snapshots, 3rd ed. New York: Dover, pp. 290-295,
1999.
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