Is there a widely-used algorithm that has time complexity worse than that of another known algorithm but it is a better choice in all practical si
Monte carlo integration was already suggested but a more specific example is Monte Carlo pricing in finance is also a suggestion. Here the method is much easier to code and can do more things than some others BUT it is much slower than say, finite difference.
its not practical to do 20dimensional finite difference algorithms, but a 20 dimensional pricing execution is easy to set up.