We investigate three fundamental aspects of the thermodynamic descript
ion of the cosmological many-body problem, which has been used extensi
vely as a model of galaxy clustering. First we show explicitly how the
thermodynamic description involves only the local fluctuating part of
the gravitational field, even though gravity is a long-range force. S
econd we discuss the conditions for a quasi-equilibrium description to
apply. Third, we derive the functional form of b((n) over bar, T), th
e ratio of gravitational correlation energy to twice the kinetic energ
y of peculiar velocities, which completes the equation of state. This
functional form previously had to be postulated as an Ansatz. We also
discuss how it is related to other physical properties of the system.