Notice of RetractionWhy Chinese characteristic market succeed: From the neglected exchange prerequisites of invisible hand to preference structure

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

Why Chinese marketization can succeed without fully justice and freedom which are the standards of mature market system? However, Walrasian method can not figure out the reason. Begin with the description on market from Classical Economics and then combine the findings of Evolutionary Economics and Neo-Institutional Economics, we re-interpret market exchange´s prerequisites and their influencing factors, which would help us find that the relation between individual preference of exchange structure and the market structure based on social choice structure is the key. We resort to infra-marginal method to improve Sen´s impossibility of Paretian Libertarian theorem at the aspect of personal domain and interpersonal comparison, then list different patterns of choice conflicts between individual and society, and explain the adaptive method. Finally we explain the phenomena in Chinese incomplete market from the angle of dynamic economics.