  It has recently been suggested that exchange spring media offer a way to
increase media density without causing thermal instability
(superparamagnetism), by using a hard and a soft layer coupled by exchange.
Victora has suggested a figure of merit xi = 2 E_b/mu_0 m_s H_sw, the ratio of
the energy barrier to that of a Stoner-Wohlfarth system with the same switching
field, which is 1 for a Stoner-Wohlfarth (coherently switching) particle and 2
for an optimal two-layer composite medium. A number of theoretical approaches
have been used for this problem (e.g., various numbers of coupled
Stoner-Wohlfarth layers and continuum micromagnetics). In this paper we show
that many of these approaches can be regarded as special cases or
approximations to a variational formulation of the problem, in which the energy
is minimized for fixed magnetization. The results can be easily visualized in
terms of a plot of the energy as a function of magnetic moment m_z, in which
both the switching field [the maximum slope of E(m_z)] and the stability
(determined by the energy barrier E_b) are geometrically visible. In this
formulation we can prove a rigorous limit on the figure of merit xi, which can
be no higher than 4. We also show that a quadratic anistropy suggested by Suess
et al comes very close to this limit.
