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In the context of cooperative wireless networks that convey data on slow fading channels, outage probability P o is the relevant performance index from the point of view of information theory. Derivation and minimization of this probability with respect to the relaying protocol parameters is of central importance. However, it is often hard to derive its expression, let alone to find its exact minimum for all possible values of the signal-to-noise ratio (SNR). This problem can be simplified by studying the behavior of P o in the asymptotic regime where the SNR rho converges to infinity. In this regime, usually rho N+1 P o converges to a constant xi where N is the number of relays. In this paper, a simple and general method for deriving and minimizing xi with respect to the power distribution between the source and the relays, and with respect to the durations of the slots specified by the relaying protocol, is developed. While the proposed approach is designed for the high SNR regime, simulations show that outage probability is reduced in a similar proportion at moderate SNR. The method applies to a general class of radio channels that includes the Rayleigh and the Rice channels as particular cases. Convexity of xi with respect to the design parameters is shown. Decode-and-forward, as well as amplify-and-forward protocols are considered in the half duplex mode.