My understanding of transaction costs is:
- Any operation that increases the context (e.g. added storage, revelation, etc) incurs a burn fee. This is based on a fixed rate defined in the protocol.
- There's also a baker fee that goes to the baker. This incentivises the baker to include the operation in their next block.
My question is how should the baker fee be estimated when creating an operation? Assuming bakers optimize their blocks to earn the highest baker fee, what are they optimizing for? Is it simply based on which operations have the highest baker fee/gas ratio, or is it more complicated than that?