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Cut norm and biclique gap?

Given real $\pm1$ matrix $M\in\Bbb R^{n\times m}$ we have that cut-norm is given by $$\|M\|_C=\max_{\mathcal I\subseteq[n],\mathcal J\subseteq[m]}\Big|\sum_{(i,j)\in\mathcal I\times\mathcal J}M_{ij}\...