Abstract:     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.  

Key words: compound real option, cooperation game, government-university-industry combination, profit allocation optimization