The time evolution of the magnetization of a magnetic molecular crystal is
obtained in an external time-dependent magnetic field, with sweep rates in the
kT/s range. We present the 'exact numerical' solution of the time dependent
Schr\"{o}dinger equation, and show that the steps in the hysteresis curve can
be described as a sequence of two-level transitions between adiabatic states.
The multilevel nature of the problem causes the transition probabilities to
deviate significantly from the predictions of the Landau-Zener-St\"{u}ckelberg
model. These calculations allow the introduction of an efficient approximation
method that accurately reproduces the exact results. When including phase
relaxation by means of an appropriate master equation, we observe an interplay
between coherent dynamics and decoherence. This decreases the size of the
magnetization steps at the transitions, but does not modify qualitatively the
physical picture obtained without relaxation.Comment: 8 pages, 7 figure