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Infrared absorption spectra of several n-type Mg 2 Si and Mg 2 Ge single crystals were obtained in the wavelength regions from 1 micron to 13 microns and 1 micron to 7 microns, respectiveiy, over the tempera-* I • Contribution No. 935. Work was performed in the Ames Laboratory of the U. S. Atomic Energy Commission

The Naval Sea Systems Command has conducted several interdisciplinary studies recently, motivated by a need to address the high cost and extended duration of naval vessel design and construction. Naval architecture and force structure studies have been key components of these efforts. Two general approaches are available: development of alternative future fleet design and programming concepts, and changes in ship expected service life policy. These are not mutually exclusive alternatives, service life is a key variable in future force planning regardless of any other variables considered. In this paper, issues associated with both approaches are described and discussed. Potential implications for future naval force structure planning are identified and recommendations for future work are suggested.

In the evaluation of large, risky expenditures on long‐lived capital investments, conventional engineering economic analysis methods do not provide adequate insight into the option value of managerial flexibility and strategic interactions. A common practical remedy is to set aside the (incomplete) analysis in favor of intuition and judgment, which in many instances results from tacit knowledge of embedded option‐type value. If this value could be explicitly documented then the decision criteria would be more transparent. With this in mind, a “real” options analogy with financial options has been proposed; the attraction is that methods for valuing financial options are mature. Naval ship design and acquisition is an option‐laden environment. Therefore if a naval version of the real options analogy were developed, it would add considerable insight. In this paper, the motivation for option‐based analysis is introduced, the basic mechanics of financial options are reviewed, and an agenda for developing options‐informed naval analyses is suggested.