The behavior of the classical degenerate parametric oscillator (

) with small linear dissipation is considered and an expression for the steady-state probability distribution for the subharmonic amplitude is obtained. The treatment is limited to the case

where Q
pand Q
sare the

factors at respectively the pump and signal frequencies. The behavior is analogous to that of the Brownian motion of a particle in a bistable potential well. This leads to a tractable equation for the relaxation towards the steady-state distribution by thermally activated jumps over the barrier. Near threshold, the behavior is similar to that of a system undergoing a second order phase transition in the mean field approximation. Analogies between first-order phase transitions and transitions in oscillating systems are also pointed out.