Credible commitment devices, MEV, and coalition formation

Here is the slide for a talk on those topics presented at Columbia CryptoEcon Workshop:

tldr: a major value proposition for cryptoeconomic mechanisms is the ability to conduct trustless collaboration through making credible commitments. In this talk, we discuss ways to think about permissionless credible commitment devices through the lens of cooperative games (specifically coalition formation in games with externality), with the (un)surprising observation that MEV arise as a necessity from the use of such devices.