This paper describes an algorithm for maximising a conditional likelihood function when the corresponding unconditional likelihood function is more easily maximised. The algorithm is similar to the EM ...

When the state space becomes large, traditional techniques, such as the backward dynamic programming algorithm (i.e., backward induction or value iteration), may no longer be effective in finding a ...

For an algorithm to be considered efficient, you must be able to increase the precision of a solution without paying a correspondingly high price in the amount of time it takes to find that solution.