{"id":"https://openalex.org/W4322716340","doi":"https://doi.org/10.48550/arxiv.2302.12895","title":"Maximizing Miner Revenue in Transaction Fee Mechanism Design","display_name":"Maximizing Miner Revenue in Transaction Fee Mechanism Design","publication_year":2023,"publication_date":"2023-02-24","ids":{"openalex":"https://openalex.org/W4322716340","doi":"https://doi.org/10.48550/arxiv.2302.12895"},"language":"en","primary_location":{"id":"pmh:oai:arXiv.org:2302.12895","is_oa":true,"landing_page_url":"http://arxiv.org/abs/2302.12895","pdf_url":"https://arxiv.org/pdf/2302.12895","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"text"},"type":"preprint","indexed_in":["arxiv","datacite"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://arxiv.org/pdf/2302.12895","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5066267152","display_name":"Ke Wu","orcid":"https://orcid.org/0000-0001-7442-1017"},"institutions":[],"countries":[],"is_corresponding":true,"raw_author_name":"Wu, Ke","raw_affiliation_strings":[],"affiliations":[]},{"author_position":"middle","author":{"id":"https://openalex.org/A5089202539","display_name":"Elaine Shi","orcid":"https://orcid.org/0000-0002-5605-1048"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Shi, Elaine","raw_affiliation_strings":[],"affiliations":[]},{"author_position":"last","author":{"id":"https://openalex.org/A5056778643","display_name":"Hao Chung","orcid":"https://orcid.org/0009-0001-7617-3560"},"institutions":[],"countries":[],"is_corresponding":false,"raw_author_name":"Chung, Hao","raw_affiliation_strings":[],"affiliations":[]}],"institutions":[],"countries_distinct_count":0,"institutions_distinct_count":3,"corresponding_author_ids":["https://openalex.org/A5066267152"],"corresponding_institution_ids":[],"apc_list":null,"apc_paid":null,"fwci":null,"has_fulltext":true,"cited_by_count":2,"citation_normalized_percentile":null,"cited_by_percentile_year":null,"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},"topics":[{"id":"https://openalex.org/T10270","display_name":"Blockchain Technology Applications and Security","score":0.9998000264167786,"subfield":{"id":"https://openalex.org/subfields/1710","display_name":"Information Systems"},"field":{"id":"https://openalex.org/fields/17","display_name":"Computer Science"},"domain":{"id":"https://openalex.org/domains/3","display_name":"Physical Sciences"}},{"id":"https://openalex.org/T11182","display_name":"Auction Theory and Applications","score":0.9980000257492065,"subfield":{"id":"https://openalex.org/subfields/1803","display_name":"Management Science and Operations Research"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T11995","display_name":"FinTech, Crowdfunding, Digital Finance","score":0.9215999841690063,"subfield":{"id":"https://openalex.org/subfields/1404","display_name":"Management Information Systems"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mechanism-design","display_name":"Mechanism design","score":0.840892493724823},{"id":"https://openalex.org/keywords/revenue","display_name":"Revenue","score":0.7564002275466919},{"id":"https://openalex.org/keywords/database-transaction","display_name":"Database transaction","score":0.6808135509490967},{"id":"https://openalex.org/keywords/common-value-auction","display_name":"Common value auction","score":0.6184015274047852},{"id":"https://openalex.org/keywords/computer-science","display_name":"Computer science","score":0.5896210670471191},{"id":"https://openalex.org/keywords/incentive-compatibility","display_name":"Incentive compatibility","score":0.5882598161697388},{"id":"https://openalex.org/keywords/mechanism","display_name":"Mechanism (biology)","score":0.5463202595710754},{"id":"https://openalex.org/keywords/incentive","display_name":"Incentive","score":0.5389026403427124},{"id":"https://openalex.org/keywords/transaction-cost","display_name":"Transaction cost","score":0.4536702632904053},{"id":"https://openalex.org/keywords/computer-security","display_name":"Computer security","score":0.3622167408466339},{"id":"https://openalex.org/keywords/operations-research","display_name":"Operations research","score":0.3532521426677704},{"id":"https://openalex.org/keywords/microeconomics","display_name":"Microeconomics","score":0.32570505142211914},{"id":"https://openalex.org/keywords/business","display_name":"Business","score":0.2952430248260498},{"id":"https://openalex.org/keywords/database","display_name":"Database","score":0.23790639638900757},{"id":"https://openalex.org/keywords/economics","display_name":"Economics","score":0.21350640058517456},{"id":"https://openalex.org/keywords/finance","display_name":"Finance","score":0.1680229902267456},{"id":"https://openalex.org/keywords/engineering","display_name":"Engineering","score":0.14035198092460632}],"concepts":[{"id":"https://openalex.org/C153517567","wikidata":"https://www.wikidata.org/wiki/Q26090","display_name":"Mechanism design","level":2,"score":0.840892493724823},{"id":"https://openalex.org/C195487862","wikidata":"https://www.wikidata.org/wiki/Q850210","display_name":"Revenue","level":2,"score":0.7564002275466919},{"id":"https://openalex.org/C75949130","wikidata":"https://www.wikidata.org/wiki/Q848010","display_name":"Database transaction","level":2,"score":0.6808135509490967},{"id":"https://openalex.org/C163239763","wikidata":"https://www.wikidata.org/wiki/Q5153637","display_name":"Common value auction","level":2,"score":0.6184015274047852},{"id":"https://openalex.org/C41008148","wikidata":"https://www.wikidata.org/wiki/Q21198","display_name":"Computer science","level":0,"score":0.5896210670471191},{"id":"https://openalex.org/C91810955","wikidata":"https://www.wikidata.org/wiki/Q7731670","display_name":"Incentive compatibility","level":3,"score":0.5882598161697388},{"id":"https://openalex.org/C89611455","wikidata":"https://www.wikidata.org/wiki/Q6804646","display_name":"Mechanism (biology)","level":2,"score":0.5463202595710754},{"id":"https://openalex.org/C29122968","wikidata":"https://www.wikidata.org/wiki/Q1414816","display_name":"Incentive","level":2,"score":0.5389026403427124},{"id":"https://openalex.org/C98965940","wikidata":"https://www.wikidata.org/wiki/Q877496","display_name":"Transaction cost","level":2,"score":0.4536702632904053},{"id":"https://openalex.org/C38652104","wikidata":"https://www.wikidata.org/wiki/Q3510521","display_name":"Computer security","level":1,"score":0.3622167408466339},{"id":"https://openalex.org/C42475967","wikidata":"https://www.wikidata.org/wiki/Q194292","display_name":"Operations research","level":1,"score":0.3532521426677704},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.32570505142211914},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.2952430248260498},{"id":"https://openalex.org/C77088390","wikidata":"https://www.wikidata.org/wiki/Q8513","display_name":"Database","level":1,"score":0.23790639638900757},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.21350640058517456},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.1680229902267456},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.14035198092460632},{"id":"https://openalex.org/C111472728","wikidata":"https://www.wikidata.org/wiki/Q9471","display_name":"Epistemology","level":1,"score":0.0},{"id":"https://openalex.org/C138885662","wikidata":"https://www.wikidata.org/wiki/Q5891","display_name":"Philosophy","level":0,"score":0.0}],"mesh":[],"locations_count":2,"locations":[{"id":"pmh:oai:arXiv.org:2302.12895","is_oa":true,"landing_page_url":"http://arxiv.org/abs/2302.12895","pdf_url":"https://arxiv.org/pdf/2302.12895","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"text"},{"id":"doi:10.48550/arxiv.2302.12895","is_oa":true,"landing_page_url":"https://doi.org/10.48550/arxiv.2302.12895","pdf_url":null,"source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":null,"is_accepted":false,"is_published":null,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:oai:arXiv.org:2302.12895","is_oa":true,"landing_page_url":"http://arxiv.org/abs/2302.12895","pdf_url":"https://arxiv.org/pdf/2302.12895","source":{"id":"https://openalex.org/S4306400194","display_name":"arXiv (Cornell University)","issn_l":null,"issn":null,"is_oa":true,"is_in_doaj":false,"is_core":false,"host_organization":"https://openalex.org/I205783295","host_organization_name":"Cornell University","host_organization_lineage":["https://openalex.org/I205783295"],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by","license_id":"https://openalex.org/licenses/cc-by","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"","raw_type":"text"},"sustainable_development_goals":[{"id":"https://metadata.un.org/sdg/1","display_name":"No poverty","score":0.550000011920929}],"awards":[{"id":"https://openalex.org/G1382017272","display_name":null,"funder_award_id":"1704788","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G4566174607","display_name":null,"funder_award_id":"2212746","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G6755165505","display_name":null,"funder_award_id":"award","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G6894402473","display_name":null,"funder_award_id":"Fellowship","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G848032724","display_name":null,"funder_award_id":"Science","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"},{"id":"https://openalex.org/G8645061744","display_name":null,"funder_award_id":"2044679","funder_id":"https://openalex.org/F4320306076","funder_display_name":"National Science Foundation"}],"funders":[{"id":"https://openalex.org/F4320306076","display_name":"National Science Foundation","ror":"https://ror.org/021nxhr62"}],"has_content":{"grobid_xml":true,"pdf":true},"content_urls":{"pdf":"https://content.openalex.org/works/W4322716340.pdf","grobid_xml":"https://content.openalex.org/works/W4322716340.grobid-xml"},"referenced_works_count":0,"referenced_works":[],"related_works":["https://openalex.org/W2610226722","https://openalex.org/W4321472159","https://openalex.org/W1502128320","https://openalex.org/W2950333913","https://openalex.org/W4301722110","https://openalex.org/W2524244071","https://openalex.org/W3103204983","https://openalex.org/W2054039722","https://openalex.org/W4390048635","https://openalex.org/W3133924690"],"abstract_inverted_index":{"Transaction":[0],"fee":[1,26,182],"mechanism":[2,8,27,33,46,71,91,183],"design":[3,9,28,47,166,184],"is":[4,59,136],"a":[5,63,75,117,148],"new":[6,44,187],"decentralized":[7,45],"problem":[10,48],"where":[11,56,66],"users":[12,98],"bid":[13],"for":[14,96],"space":[15],"on":[16,162],"the":[17,24,39,53,67,70,90,108,130,133,159,177,186,196],"blockchain.":[18],"Several":[19],"recent":[20],"works":[21,84],"showed":[22,85],"that":[23,86,144,168],"transaction":[25,181],"fundamentally":[29],"departs":[30],"from":[31],"classical":[32],"design.":[34],"They":[35],"then":[36,107],"systematically":[37,175],"explored":[38],"mathematical":[40,178],"landscape":[41,179],"of":[42,69,121,132,180],"this":[43,126,140],"in":[49,52,62,80],"two":[50],"settings:":[51],"plain":[54],"setting":[55,65],"no":[57],"cryptography":[58],"employed,":[60],"and":[61,165,189,198],"cryptography-assisted":[64],"rules":[68],"are":[72],"enforced":[73],"by":[74],"multi-party":[76],"computation":[77],"protocol.":[78],"Unfortunately,":[79],"both":[81,97],"settings,":[82],"prior":[83,154],"if":[87,145],"we":[88,142,146,156],"want":[89],"to":[92,112],"incentivize":[93],"honest":[94],"behavior":[95],"as":[99,101],"well":[100],"miners":[102],"(possibly":[103],"colluding":[104],"with":[105],"users),":[106],"miner":[109,134,163,171],"revenue":[110,135],"has":[111],"be":[113],"zero.":[114],"Although":[115],"adopting":[116],"relaxed,":[118],"approximate":[119],"notion":[120],"incentive":[122],"compatibility":[123],"gets":[124],"around":[125],"zero":[127],"miner-revenue":[128],"limitation,":[129],"scaling":[131],"nonetheless":[137],"poor.":[138],"In":[139],"paper,":[141],"show":[143],"make":[147],"mildly":[149],"stronger":[150],"reasonable-world":[151,188],"assumption":[152],"than":[153],"works,":[155],"can":[157,194],"circumvent":[158],"known":[160],"limitations":[161],"revenue,":[164],"auctions":[167],"generate":[169],"optimal":[170],"revenue.":[172],"We":[173],"also":[174],"explore":[176],"under":[185],"demonstrate":[190],"how":[191],"such":[192],"assumptions":[193],"alter":[195],"feasibility":[197],"infeasibility":[199],"landscape.":[200]},"counts_by_year":[{"year":2025,"cited_by_count":1},{"year":2023,"cited_by_count":1}],"updated_date":"2026-04-10T15:06:20.359241","created_date":"2025-10-10T00:00:00"}
