  We compare two recently proposed methods for the characterization of phase
transitions in small systems. The validity and usefulness of these approaches
are studied for the case of the q=4 and q=5 Potts model, i.e. systems where a
thermodynamic limit and exact results exist. Guided by this analysis we discuss
then the helix-coil transition in polyalanine, an example of structural
transitions in biological molecules.
