However, the introduction of organosilicon into the emulsion system induces some difficulties in application, for example: the hydrolysis facility of reactive organosilicon with double bond bothers the emulsion polymerization; the use of hindering organosilicon in the emulsion polymerization causes the long solidification time of the coatings.

In this paper,firstly,the connotation and the solution of down knock-out option and the basic principle of real option are dissertated,then,the method applied in project investment decision based on down knock-out option and game theory is put forward.