Formalization and Proof of the "Extended Church-Turing Thesis" Jenny Falkovich Abstract: One of the important parameters in the description of a modern algorithm is its complexity. This analysis strongly depends on the underlying computational model and domain representation. But, despite that, we are used to consider complexity classes like P, NP, or Exp to be well defined. This invariance relies on the famous "Extended Church-Turing Thesis", which asserts that every "effective" algorithm can be simulated by a Turing machine with only a polynomial overhead in the number of steps. True, this thesis is satisfied by all the usual "effective" models, and makes one optimistic that the hypothesis holds generally. Yet, the intriguing possibility of the existence of more powerful, but still effectively realizable, computational models than those we have today, remains open. To prove the thesis from first principles, one should not rely on any specific computational model, but rather capture the generic notion of effective algorithm. We suggest an axiomatic approach, which allows us to investigate the notion of effective algorithm on the most basic, yet most intuitive, level.