Approximation algorithms for maximum cut with limited unbalance

We consider the problem of partitioning the vertices of a weighted graph into two sets of sizes that differ at most by a given threshold B, so as to maximize the weight of the crossing edges. For B equal to 0 this problem is known as Max Bisection, whereas for B equal to the number n of nodes it is the Maximum Cut problem. We present polynomial time randomized approximation algorithms with non trivial performance guarantees for its solution. The approximation results are obtained by extending the methodology used by Y. Ye for Max Bisection and by combining this technique with another one that uses the algorithm of Goemans and Williamson for the Maximum Cut problem. When B is equal to zero the approximation ratio achieved coincides with the one obtained by Y. Ye; otherwise it is always above this value and tends to the value obtained by Goemans and Williamson as B approaches the number n of nodes.