4. (Arrow - Debreu) Consider a market with two assets and four potential states of the world. We denote the uncertainty set by N = {1,2,3,4}. Let 5 11 (7,3)= (* 4) x = 7 4 = = be the initial prices of the two assets and suppose that the future values of each asset in all states are given by, X = (X(1), X(2), X(3), X(4)) = (1, 2, 3, 4) Y (Y(1), Y(2), Y (3), Y (4)) = (7,6,5,4). a. Show that the market is viable. b. Is the market complete? and why? c. Compute all risk neutral probability and discount factor pairs. 4. (Arrow - Debreu) Consider a market with two assets and four potential states of the world. We denote the uncertainty set by N = {1,2,3,4}. Let 5 11 (7,3)= (* 4) x = 7 4 = = be the initial prices of the two assets and suppose that the future values of each asset in all states are given by, X = (X(1), X(2), X(3), X(4)) = (1, 2, 3, 4) Y (Y(1), Y(2), Y (3), Y (4)) = (7,6,5,4). a. Show that the market is viable. b. Is the market complete? and why? c. Compute all risk neutral probability and discount factor pairs