Let . A fixed point satisfies , so
The nonzero fixed points exist for or . Local stability requires , and
Away from the boundary values:
  • : all three fixed points are unstable.
  • : is stable and are unstable.
  • : only exists, and it is stable.
  • : is unstable and are stable.
  • : all three are unstable.
At a multiplier has modulus one and linear stability is inconclusive; at , is strongly stable.

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