The Euro football championship is taking place these days. Financial investors are aware of arbitraging opportunities related to the championship and are seeking to construct portfolios exploiting them. We assume all other things are equal. a. Which of the following do you think is a realistic arbitrage strategy related to the championship: (1) Buy a portfolio of companies advertising on the stadiums. (2) Go long on a portfolio of companies for which the players have made endorsements in the past six months and short a portfolio of comparable companies unendorsed by players. (3) Build portfolios replicating the stock indices on the participating countries. After each match, go long on a replication of the stock market index associated with the country that wins that match and short the replication of the index associated with the losing country. (4) Long the stock of the construction companies that build the stadiums where the most winning matches took place. (5) Go long on the stock of companies producing football gear and short the stock of companies producing ski equipment. B) After having answered (a), justify and explain your choice using a behavioural effect. The Euro football championship is taking place these days. Financial investors are aware of arbitraging opportunities related to the championship and are seeking to construct portfolios exploiting them. We assume all other things are equal. a. Which of the following do you think is a realistic arbitrage strategy related to the championship: (1) Buy a portfolio of companies advertising on the stadiums. (2) Go long on a portfolio of companies for which the players have made endorsements in the past six months and short a portfolio of comparable companies unendorsed by players. (3) Build portfolios replicating the stock indices on the participating countries. After each match, go long on a replication of the stock market index associated with the country that wins that match and short the replication of the index associated with the losing country. (4) Long the stock of the construction companies that build the stadiums where the most winning matches took place. (5) Go long on the stock of companies producing football gear and short the stock of companies producing ski equipment. B) After having answered (a), justify and explain your choice using a behavioural effect