近年来,投资组合等以投出资金为目标的证券投资研究备受关注.同时,针对投资决策的研究,即对何时投入何时抛出进行智能决策,也越来越受关注.金融投资的收益和风险充满了不确定性,需要做出决策,判断投资者是否应该投资,以及如何投资.在三支决策中,决策者对风险的态度是一个重要的决策考虑.文章在序贯三支决策模型的基础上,通过确定性等价模拟投资者的风险态度来解决证券投资问题.在此基础上,提出了确定性等价序贯三向决策(Certainty Equivalent based Sequential Three-Way Decision,CES3WD)模型.从历史数据中获得收益的均值和方差,作为投资的预期收益和风险;利用指数效用函数将期望总收益转化为决策者的风险态度,并采用确定性等价方法测算决策者的预期投资回报;基于期望效用最大化原则,构造决策规则.在此基础上,根据实际投资策略对动态决策规则进行优化,构造了序贯三支决策的动态投资规则.最后,通过实验和分析验证了模型的有效性.“,”In recent decades, the research on securities investment such as portfolio received attention, which is based on the current determination to invest, and research on uncertain investment decisions using artificial intelligence with uncertainty methods are be-ing studied more and more widely. The returns and risks of financial investment are full of uncertainty, we need to make decisions to judge whether and how investors should make investment decision. In three-way decision, the attitude of decision makers about risk is an important decision consideration. Based on the sequential three-way decision model, the problem of securities investment was studied by simulating the risk attitude of investors through certainty equivalent. A Certainty Equivalent based Sequential Three-Way Decision (CES3WD) model is introduced. The mean and variance of returns are obtained from historical data and used as the expected return and risk of investment. The expected total value is transformed into the risk attitude of decision makers by the expo-nential utility function, and the expected investment return of the decision makers are measured by the certainty equivalent method. Moreover, based on the principle of maximizing expected investment return, the decision rule is constructed. On this basis, the dy-namic decision rules are optimized according to the actual investment strategy, and the derivation algorithms of sequential three-way decision rules are constructed. Finally, experimental analysis validates the proposed methods.