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We study power control in multicell CDMA wireless networks as a team optimization problem where each mobile attains its individual fixed target SIR level by transmitting with minimum possible power level. We derive conditions under which the power control problem admits a unique feasible solution. Using a Lagrangian relaxation approach similar to F. Kelly et al. (1998) we obtain two decentralized dynamic power control algorithms: primal and dual power update, and establish their global stability utilizing both classical Lyapunov theory and the passivity framework [J.T. Wen and M. Arcak, February 2004]. We show that the robustness results of passivity studies [(X. Fan et al., July 2004), (X. Fan et al., 2004)] as well as most of the stability and robustness analyses of F. Kelly et al. (1998) in the literature are applicable to the power control problem considered. In addition, some of the basic principles of call admission control are investigated from the perspective of the model adopted in this paper. We illustrate the proposed power control schemes through simulations.