We study transition matrices for projected dynamics in the energy-magnetization, magnetization, and energy spaces. Several single-spin-flip dynamics are considered, such as the Glauber and Metropolis canonical ensemble dynamics, and the Metropolis dynamics for three multicanonical ensembles: the flat energy-magnetization, the flat energy, and the flat magnetization histograms. From the numerical diagonalization of the matrices for the projected dynamics we obtain the subdominant eigenvalues and the largest relaxation times for systems of varying size. Although the projected dynamics is an approximation to the full state space dynamics, comparison with some available results, obtained by other authors, shows that projection in the magnetization space is a reasonably accurate method to study the scaling of relaxation times with system size. For each system size, the transition matrices for arbitrary single-spin-flip dynamics are obtained from a single Monte Carlo estimate of the infinite-temperature transition matrix. This makes the method an efficient tool for evaluating the relative performance of any arbitrary local spin-flip dynamics. We also present results for appropriately defined average tunneling times of magnetization and compare their finite-size scaling exponents with results of energy tunneling exponents available for the flat energy histogram multicanonical ensemble.
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