A compact model for the major and minor current–voltage ( I–V ) loops of bipolar resistive switching devices is reported. Following Chua's definition of memristive devices, the proposed approach comprises two equations: one for the electron transport across the device based on the generalized diode equation and a second one for the memory effect based on the Duhem differential equation. The model takes into account the creation and rupture of multiple conductive channels in terms of a voltage-driven logistic hysteron. Because of the identity property of the hysteresis operator used to solve the Duhem equation, the model is suitable for arbitrary input signals.