AVERAGE CASE COMPUTATIONAL COMPLEXITY Yuri Gurevich University of Michigan One way to cope with the phenomenon of NP completeness is to try to solve the problem quickly on average with respect to the relevant distribution on instances. That works in many cases, but some randomized NP problems are hard even in the average case. We explain, motivate and justify basic definitions of the average-case reduction theory, and describe the current state of affairs. In addition (time permitting), we discuss the P=?NP question and argue in favor of an alternative question based on the average-case complexity.