摘要：根据价值评价-利益分配的思路，提出了用期权-博弈整体化方法来尝试解决产学研结合项目利益分配的最优化问题。首先将产学研多方中各种可能的合作项目方案统一列出。在分析项目面临的风险、风险与复合期权种类的对应关系后，结合项目合作方的特点，对项目所含复合实物期权进行设计构造。继而利用复合实物期权二项式评价方法对项目期权价值进行评价。在多个合作方案价值评价基础上，运用合作博弈理论研究产学研利益分配比例。实例分析表明，应用本文方法能够实现合作各方资源贡献与利益分配的有机统一。  

    Abstract: According to the thought of value evaluation and profit allocation, the option-game integrative method is proposed to deal with the profit allocation optimization problem of government-university-industry combination. Several possible cooperate projects are listed firstly. After analyzing the project risks and the corresponding relationship between risks and kinds of compound real option, the compound real option imbedded in project are constructed combined with the copartners characters. Then the project option value is appraised by using compound real option binomial evaluation model. Based on the evaluation of the several project options, the profit allocation proportion is studied by the cooperation game theory. The sample indicates that the copartners’ resource contribution and profit allocation can be united perfectly by using above method.