Comparative optimality of larger committees under convex costs beyond the 3-vs-1 case
Determine whether, under convex cost functions c(x), committees of size k″ are better than committees of size k′ for k″ > k′ > 3 in terms of the success probability succ achieved by symmetric efforts subject to the budget constraint. Specifically, characterize for general convex c(x) and budget B whether succ(x*(k″), k″) ≥ succ(x*(k′), k′), where x*(k) is the optimal symmetric effort satisfying k·c(x*(k)) = B.
References
Even generalizing Theorem \ref{th_three-vs-one}, to understand e.g. if k'' DReps are better than k' DReps for k'' > k' >3, leads to a more complex analysis, since one needs to account for all the different probability events that can lead to the correct outcome. We leave this as an interesting open problem for future work.
— Reward Schemes and Committee Sizes in Proof of Stake Governance
(2406.10525 - Birmpas et al., 15 Jun 2024) in End of Section 5.4 (Convex case: The budget matters for the optimal number of DReps)