Abstract: This paper presents a new stochastic chance-constrained 0-1 integer multi-project multi-item investment combination programming model for investigating overseas investment.The proposed model includes two objectives with stochastic constraints on the demanded cash not more than supported cash to construct a 0-1 integer programming model.On the one hand,the risk value will be measured by negative entropy;on the other hand,the pursued value objective will be composed of two parts including classical NPV and the corresponding realoption value for any it em of any project.Then,how to use DE to solve the optimization model with a small modification of const rain-thandling rule after absorbing some idea of NSGA-II is proposed.Asimulation experiment is employed to illust rate the application of the proposed model to get the Pareto-optimal solutions by applying the modified algorithm DE,and the performance evaluation of DE with random flexing factor and fixed number flexing factor is compared.The performance of the former is better than that of the latter.

Key words: stochastic surroundings, realoption perspective, oversea market development, multi-project and multi-item optimization, Pareto solution, modified DE algorithm