A model for single-domain uniaxial ferromagnetic particles with high anisotropy, the Ising model, is studied. Recent experimental observations have been made of the probability that the magnetization has not switched. Here an approach is described in which it is emphasized that a ferromagnetic particle in an unfavorable field is in fact a metastable system, and the switching is accomplished through the nucleation and subsequent growth of localized droplets. Nucleation theory is applied to finite systems to determine the coercivity as a function of particle size and to calculate the probability of not switching. Both of these quantities are modified by different boundary conditions, magnetostatic interactions, and quenched disorder.
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