I'm just curious what is the "industry standard" for implementing a binomial tree (if "standards" exist in this case). For simplicity, let's just talk about the simplest trees with recombining nodes.
Personally, I've been using 2d arrays/matrices, in particular upper-triangular matrices to implement binomial trees. I'm using Python so
numpy.ndarray becomes the obvious way to go. I'm not seeing any big problem with this (you are welcome to point out the disadvantages of using
ndarray for this job in your opinion).
Besides 2d arrays, what are the other efficient ways/data structures to implement the binomial tree? It would be especially appreciated if anyone can kindly provide their "industry inisights" to this problem. Thanks!