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A different approach is to do inlier detection by finding a max clique. This is an NP-Complete problem, but there are fast approximations which appear to work well in practice.

This method is described in the following papers:

Real-Time Stereo Visual Odometry for Autonomous Ground Vehicles - Andrew Howard

Fast, Unconstrained Camera Motion Estimation from Stereo without Tracking and Robust Statistics - Heiko Hirschmu ̈ller, Peter R. Innocent and Jon M. Garibaldi