  The mincut graph bisection problem involves partitioning the n vertices of a
graph into disjoint subsets, each containing exactly n/2 vertices, while
minimizing the number of "cut" edges with an endpoint in each subset. When
considered over sparse random graphs, the phase structure of the graph
bisection problem displays certain familiar properties, but also some
surprises. It is known that when the mean degree is below the critical value of
2 log 2, the cutsize is zero with high probability. We study how the minimum
cutsize increases with mean degree above this critical threshold, finding a new
analytical upper bound that improves considerably upon previous bounds.
Combined with recent results on expander graphs, our bound suggests the unusual
scenario that random graph bisection is replica symmetric up to and beyond the
critical threshold, with a replica symmetry breaking transition possibly taking
place above the threshold. An intriguing algorithmic consequence is that
although the problem is NP-hard, we can find near-optimal cutsizes (whose ratio
to the optimal value approaches 1 asymptotically) in polynomial time for
typical instances near the phase transition.
