Talk:Kahan summation algorithm
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The algorithm as described is, in fact, Kahan summation as it is described in [1], however, this algorithm only works for either values of y[i] of similar magnituede or in general for increasing y[i] or y[i] << s.
Higham's paper[2] on the subject has a much more detailed analysis, including different summation techniques. I will try to add some of the main statements from that paper to this article if I find the time and there are no objections.