Benchmarking QAOA vs Classical Algorithms for Max-Cut Optimization

This study presents a rigorous empirical evaluation of the Quantum Approximate Optimization Algorithm (QAOA) within a hybrid quantum-classical framework for solving the NP-hard Max-Cut problem. Using Python and Qiskit Aer statevector simulations, we benchmark QAOA (depths p = 2 and p = 3) against established classical algorithms, including simulated annealing, the Goemans–Williamson algorithm, and greedy heuristics, across Erdős–Rényi and regular graphs with 4 to 20 nodes (100 instances per size). Results demonstrate that low-depth QAOA suffers from significant performance degradation, achieving a 0.467 approximation ratio at 20 nodes compared to 0.856 for Goemans–Williamson, alongside a 210× runtime overhead. Convergence analysis further reveals low optimality probabilities and high iteration costs, highlighting limitations of variational optimization in NISQ-era devices. This work provides a reproducible benchmarking framework and contributes to a realistic assessment of near-term quantum advantage.