Citation
Elements of Physical Biology
TL;DR
Coupled predator-prey equations produce oscillating populations
This foundational work established the mathematical treatment of predator-prey population dynamics, creating equations showing how coupled populations oscillate. Lotka's equations, developed independently of Volterra's work, form the basis for understanding cyclical competitive dynamics in both ecological and market systems.
The Lotka-Volterra model demonstrates that predator-prey systems never reach stable equilibrium but perpetually oscillate around average values - a key insight for understanding why competitive markets cycle rather than stabilize into permanent dominance patterns.
Key Findings from Lotka (1925)
- Coupled predator-prey equations produce oscillating populations
- Systems never reach stable equilibrium but oscillate around average values
- Prey populations grow exponentially without predators but decline with predator encounters
- Predator populations decline without prey but grow proportionally to prey consumed