Abstract:

Sustainability has become a mantra for the 21st century. More and more frequently policy-makers are urged to assess the impact of their strategies and policies in terms of sustainable development and its performance. Though triple bottom line is a usual approach of addressing the sustainability, process and technology based double bottom line approach has been used in this paper as an experiment to provide information based strategies towards better decision making regarding public policy and trade policy to assess sustainable development performance. For this purpose, partial equilibrium based knowledge based economy has been adopted as a driver along with information based strategy to act as a link to generate and integrate both fuzzy and rational decision-making and hence adopted as a methodology and as an approach for policy-making that involves activities related to knowing and evaluating. The paper mentions that Business Intelligence and Expert Systems Applications are two information system strategies that can be suggested to facilitate and support decision making activities to cover the range of subjective based higher level activities at public policy level to the objective and evidence based lower level supporting assessment activities of trade policy. This kind of strategy also helps to support the consensus building and reconciliation towards better decision making regarding public and trade and/or business policy.