I am looking for examples for the number of significant digits commonly required to find numerically the price different types of derivatives.
For instance, if we have to price an American put option, what is the confidence interval and numerical accuracy required in the industry?
The only relevant question I have found on this website is this one, which requires 6-8 significant digits, and the only paper I was able to find in literature is this, which in the abstracts talks about 10-11 significant digits.
Is there a widely accepted standard on this? Can we have some examples?