How does Mev work?

Could you elaborate on the mechanisms behind MEV, or miner extractable value? I understand it involves miners leveraging their network position to extract additional profits from transactions, but I'm curious about the specific steps and strategies they employ to achieve this. Additionally, what are some of the potential implications and risks associated with MEV for both miners and users of blockchain networks? Lastly, are there any measures being taken or proposed to mitigate the impact of MEV on the overall health and integrity of blockchain ecosystems?