In this paper we introduce a new polynomial-time approximation scheme prese
rving reducibility, which we call PTAS-reducibility, that generalizes previ
ous definitions. As a first application of this generalization, we prove th
e APX-completeness under PTAS-reducibility of a polynomially bounded optimi
zation problem, that is, an APX problem whose measure function is bounded b
y a polynomial in the length of the instance and such that any APX problem
is PTAS-reducible to it. As far as we know, no such problem was known befor
e, This result combined with results of Khanna et al. allows us to infer th
at several natural optimization problems are APX-complete under PTAS-reduci
bility, such as MAX CUT and MAX SAT. Successively, we apply the notion of A
PX-completeness under PTAS-reducibility to the study of the relative comple
xity of evaluating an r-approximate value and computing an r-approximate so
lution for any r. We first show that if P not equal NP boolean AND coNP, th
en the former question can be easier than the latter even if the optimizati
on problem is NP-hard. We then give strong evidence that if an optimization
problem is APX-complete under PTAS-reducibility, then the two questions ar
e both hard.