  In this paper we describe the solution of a stochastic bistable system from a
dynamical perspective. We show how a single framework with variable noise can
explain hysteresis at zero temperature and two-state coexistence in the
presence of noise. This feature is similar to the phase transition of
thermodynamics. Our mathematical model for bistable systems also explains how
the width of a hysteresis loop shrinks in the presence of noise, and how
variation in initial conditions can take such systems to different final
states.
