2023/10/11 by Guillermo Angeris, Angeris, Guillermo, Tarun Chitra +4 · 1 citation
Computer Science · #Advanced Algebra and Logic #Combinatorics (math.CO) #Computational Finance (q-fin.CP) #Computer Science and Game Theory (cs.GT) #FOS: Computer and information sciences #FOS: Economics and business #FOS: Mathematics #Imbalanced Data Classification Techniques #Optimization and Control (math.OC) #Rough Sets and Fuzzy Logic
paper · pdf · doi:10.48550/arxiv.2310.07865
openalex publication_date 2023/10/11 · openalex created_date 2025/10/10 · openalex updated_date 2026/07/28
Miner extractable value (MEV) refers to any excess value that a transaction validator can realize by manipulating the ordering of transactions. In this work, we introduce a simple theoretical definition of the 'cost of MEV', prove some basic properties, and show that the definition is useful via a number of examples. In a variety of settings, this definition is related to the 'smoothness' of a function over the symmetric group. From this definition and some basic observations, we recover a number of results from the literature.