Comprehensive Study of $k$-essence Model: Dynamical System Analysis and Observational Constraints from Latest Type Ia Supernova and BAO Observations

We constrain the parameters of the $k$-essence scalar field model with inverse square and exponential potentials using data sets including Pantheon+SHOES and the Dark Energy Survey (DES) of Type Ia supernovae, Baryon Acoustic Oscillation (BAO) data from SDSS and DESI surveys, and direct measurements of the Hubble parameter and redshift obtained from the differential age method (CC). We also provide a brief perspective on the dynamical evolution of both models and derive stability constraints on the model parameters, which are then used to set appropriate priors. We adopt a Bayesian inference procedure to estimate the model parameters that best fit the data. A comprehensive analysis in light of observational data shows that the $k$-essence model fits well across all data combinations. However, according to the BIC criterion, the $\Lambda$CDM model provides a slightly better fit compared to the $k$-essence model.