The Malthus model is given by
$\frac{dP(t)}{dt}=rP(t)$, where $r$ is the growth rate. This model ignores the competition for resources among individuals. So, Verhulst came up with a model
$\frac{dP(t)}{dt}=rP(t) \left(1-\frac{P(t)}{K} \right)$, where $K$ is the carrying capacity of environment. My question is:
how he derived this model or what was the idea behind this model ?
In Strogatz book "Non linear dynamics and chaos", they give the following explanation:
Because $\frac{\dot P(t)}{P(t)}$, the per capita growth rate should decrease for the large population. A mathematical convenient way to incorporate these ideas is to assume that per capita growth rate decreases linearly with $P(t)$, which leads to logistic equation. Was this the original idea of Verhulst behind Logistic growth model ?