log-sum-exp trick

when I implement models with discrete variables (which actually happens more than one can think), I always end up estimating this value:
$$V = \log \left( \sum_i e^{b_i} \right)$$
Why ? This usually happens at the denominator of a Bayes formula for example. I try to keep $log$-probabilities all the time so that not to have to deal with very small numbers and to do additions instead of multiplications. By the way, I was looking at the time and latency of floating-point instructions in the latest processors (like Intel Core i7 for example), and I realized that still in 2010, additions are faster than multiplications (even with SSEx and the like).

Therefore, use $log$

In this expression, $b_i$ are the log-probabilities and therefore $e^{b_i}$ are very small or very big yielding to overflow or underflow sometimes. A scaling trick can help using numbers in a better range without loss of accuracy and for a little extra cost as follows:
$$\begin{array}{rcl} \log \left( \sum_i e^{b_i} \right)&=& \log \left( \sum_i e^{b_i}e^{-B}e^{B} \right)\\ ~ &=& \log \left( \left( \sum_i e^{b_i - B }\right)e^{B} \right)\\ ~ &=& \log \left( \sum_{i} e^{b_i - B} \right) + B \end{array}$$

And that's it. For the value of $B$, take for instance $B=\max_i b_i$.
So the extra cost is to find the max value and to make a subtraction.