Approximating the Minimum Equivalent Digraph
Samir Khuller, Balaji Raghavachari, Neal E. Young

TL;DR
This paper presents an approximation algorithm for the NP-hard minimum equivalent digraph problem, achieving a performance guarantee of approximately 1.64 by contracting long cycles, and also analyzes a local improvement algorithm with a guarantee of 1.75.
Contribution
It introduces a novel approximation algorithm with a proven performance guarantee for the minimum equivalent digraph problem, improving upon previous bounds.
Findings
Approximation algorithm with guarantee of ~1.64
Analysis of 2-Exchange local improvement algorithm with guarantee of 1.75
Method based on contracting long cycles
Abstract
The MEG (minimum equivalent graph) problem is, given a directed graph, to find a small subset of the edges that maintains all reachability relations between nodes. The problem is NP-hard. This paper gives an approximation algorithm with performance guarantee of pi^2/6 ~ 1.64. The algorithm and its analysis are based on the simple idea of contracting long cycles. (This result is strengthened slightly in ``On strongly connected digraphs with bounded cycle length'' (1996).) The analysis applies directly to 2-Exchange, a simple ``local improvement'' algorithm, showing that its performance guarantee is 1.75.
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