{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2026,6,23]],"date-time":"2026-06-23T17:16:46Z","timestamp":1782235006004,"version":"3.54.5"},"reference-count":38,"publisher":"Emerald","issue":"10","content-domain":{"domain":[],"crossmark-restriction":false},"short-container-title":[],"published-print":{"date-parts":[[2025,10,28]]},"abstract":"<jats:sec>\n                    <jats:title>Purpose<\/jats:title>\n                    <jats:p>Distributed photovoltaic (DPV) projects generally have output risks, and the production effort of the supplier is often private information, so the buyer needs to design the optimal procurement contract to maximise its procurement utility.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Design\/methodology\/approach<\/jats:title>\n                    <jats:p>Based on the principal-agent theory, we design optimal procurement contracts for DPV projects with fixed payments and incentive factors under three situations, i.e. symmetry information, asymmetry information without monitoring and asymmetry information with monitoring. We obtain the optimal production effort and expected utility of the supplier, the expected output and expected utility of the buyer and analyse the value of the information and monitoring.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Findings<\/jats:title>\n                    <jats:p>The results show that under asymmetric information without monitoring, risk-averse suppliers need to take some risk due to output risk, which reduces the optimal production effort of the supplier and the expected output and expected utility of the buyer. Therefore, when the monitoring cost is below a certain threshold value, the buyer can introduce a procurement contract with monitoring to address the asymmetry information. In addition, under asymmetric information without monitoring, the buyer should choose a supplier with a low-risk aversion.<\/jats:p>\n                  <\/jats:sec>\n                  <jats:sec>\n                    <jats:title>Originality\/value<\/jats:title>\n                    <jats:p>Considering the output risk of DPV projects, we study the optimal procurement contract design for the buyer under asymmetric information. The results provide some theoretical basis and management insights for the buyer to design optimal procurement contracts in different situations.<\/jats:p>\n                  <\/jats:sec>","DOI":"10.1108\/k-01-2024-0156","type":"journal-article","created":{"date-parts":[[2024,5,10]],"date-time":"2024-05-10T21:51:45Z","timestamp":1715377905000},"page":"5508-5528","source":"Crossref","is-referenced-by-count":2,"title":["Procurement contract design for distributed photovoltaic project considering output risk under asymmetric production effort information"],"prefix":"10.1108","volume":"54","author":[{"given":"Lian","family":"Bai","sequence":"first","affiliation":[{"name":"School of Management, Lanzhou University , ,","place":["Lanzhou, China"]}],"role":[{"vocabulary":"crossref","role":"author"}]},{"ORCID":"https:\/\/orcid.org\/0000-0002-9941-9527","authenticated-orcid":true,"given":"Dong","family":"Cai","sequence":"additional","affiliation":[{"name":"School of Management, Lanzhou University , ,","place":["Lanzhou, China"]}],"role":[{"vocabulary":"crossref","role":"author"}]}],"member":"140","published-online":{"date-parts":[[2024,5,13]]},"reference":[{"key":"2025102701174008600_ref001","doi-asserted-by":"publisher","DOI":"10.1016\/j.jedc.2023.104605","article-title":"Optimal procurement and investment in new technologies under uncertainty","volume":"147","author":"Arve","year":"2023","journal-title":"Journal of Economic Dynamics & Control"},{"key":"2025102701174008600_ref002","doi-asserted-by":"publisher","first-page":"222","DOI":"10.1016\/j.ijindorg.2018.03.004","article-title":"Optimal monitoring in dynamic procurement contract","volume":"59","author":"Asseyer","year":"2018","journal-title":"International Journal of Industrial Organization"},{"issue":"2","key":"2025102701174008600_ref003","doi-asserted-by":"publisher","first-page":"333","DOI":"10.1016\/j.ejor.2011.09.034","article-title":"Contracting with asymmetric demand information in supply chains","volume":"217","author":"Babich","year":"2021","journal-title":"European Journal of Operational Research"},{"key":"2025102701174008600_ref004","doi-asserted-by":"publisher","DOI":"10.1016\/j.enpol.2024.114009","article-title":"Government incentive contract design for carbon reduction innovation considering market value under asymmetric information","volume":"186","author":"Cai","year":"2024","journal-title":"Energy Policy"},{"key":"2025102701174008600_ref005","doi-asserted-by":"publisher","first-page":"1312","DOI":"10.1016\/j.renene.2019.09.074","article-title":"Economic impact of anticipations or delays in the completion of power generation projects in the Brazilian energy market","volume":"147","author":"Carvalho","year":"2020","journal-title":"Renewable Energy"},{"issue":"5","key":"2025102701174008600_ref006","doi-asserted-by":"publisher","first-page":"835","DOI":"10.1108\/k-12-2017-0495","article-title":"Option contract design for supply chains under asymmetric cost information","volume":"48","author":"Chen","year":"2019","journal-title":"Kybernetes"},{"issue":"5","key":"2025102701174008600_ref007","doi-asserted-by":"publisher","first-page":"1350","DOI":"10.1111\/poms.13325","article-title":"Price delegation or not? 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