A Structural Investigation of the Approximability of Polynomial-Time Problems
Karl Bringmann, Alejandro Cassis, Nick Fischer, Marvin K\"unnemann

TL;DR
This paper systematically studies the approximability of polynomial-time problems within a new class called MaxSP$_k$, providing a near-complete characterization of their approximation regimes under certain hypotheses.
Contribution
It introduces MaxSP$_k$, a polynomial-time analogue of MaxSNP, and characterizes the limits of approximation algorithms for these problems under standard complexity hypotheses.
Findings
Exact optimizability characterized algebraically.
Few maximization problems lack constant-factor approximations.
Constant-factor approximation for minimization problems equates to deciding if the optimum is zero.
Abstract
We initiate the systematic study of a recently introduced polynomial-time analogue of MaxSNP, which includes a large number of well-studied problems (including Nearest and Furthest Neighbor in the Hamming metric, Maximum Inner Product, optimization variants of -XOR and Maximum -Cover). Specifically, MaxSP denotes the class of -time problems of the form where is a quantifier-free first-order property and denotes the size of the relational structure. Assuming central hypotheses about clique detection in hypergraphs and MAX3SAT, we show that for any MaxSP problem definable by a quantifier-free -edge graph formula , the best possible approximation guarantee in faster-than-exhaustive-search time falls into one of four categories: * optimizable to exactness in time…
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