At an equilibrium, the second equation gives . The first equation then givesHence the fixed-point branches in the plane areandThe three branches meet at . The branch meets the positive square-root branch again when , so the second bifurcation value is
The Jacobian matrix at a general point isOn the branch it is triangular, with eigenvaluesThus is unstable for , asymptotically stable for , and unstable for .
On a square-root branch write . Thenwhose trace is and determinant is . The negative branch is therefore a saddle equilibrium for every . The positive branch is a saddle for and asymptotically stable for ; close to it is a stable node.
To resolve the nonhyperbolic point at , make the prescribed substitutionand append . The equations becomeThe centre subspace is . Seek the extended centre manifold for a parameter asThe centre-manifold invariance equation isTo second order, , so comparison of coefficients givesand hence , . ThereforeSubstitution into the equation gives the reduced flowIts central branch is unstable for and stable for , while the two nonzero branches for are unstable. Thus the bifurcation at zero is a subcritical pitchfork bifurcation with reversed normal-form parameter , exactly as recorded by the extended centre manifold of the 2023 Cambridge quadratic-product system.
The complete bifurcation diagram is therefore as follows. For , only exists and is unstable. For , is stable while both and are saddles. For , is stable while and are saddles. At , and cross and exchange stability, so the bifurcation is transcritical. This gives the bifurcation diagram of the 2023 Cambridge quadratic-product system.
Finally consider the phase plane near with . If , the lower equilibrium is a stable node and the upper equilibrium is a saddle. If , the lower equilibrium is the stable node and the upper equilibrium is the saddle. In each case the saddle has one-dimensional stable and unstable manifolds; one unstable separatrix runs toward the nearby stable node, while the other runs out of the local neighbourhood. The two equilibrium branches and their local invariant manifolds exchange roles as passes through one, which is the standard local phase portrait of a transcritical bifurcation.
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