There is a fundamental tradeoff between effectiveness and efficiency when designing retrieval models for large-scale document collections. Effectiveness tends to derive from sophisticated ranking functions, such as those constructed using learning to rank, while efficiency gains tend to arise from improvements in query evaluation and caching strategies. Given their inherently disjoint nature, it is difficult to jointly optimize effectiveness and efficiency in end-to-end systems. To address this problem, we formulate and develop a novel cascade ranking model, which unlike previous approaches, can simultaneously improve both top k ranked effectiveness and retrieval efficiency. The model constructs a cascade of increasingly complex ranking functions that progressively prunes and refines the set of candidate documents to minimize retrieval latency and maximize result set quality. We present a novel boosting algorithm for learning such cascades to directly optimize the tradeoff between effectiveness and efficiency. Experimental results show that our cascades are faster and return higher quality results than comparable ranking models.