Fourteenth Global Studies Conference

Abstract

Pak Mun Dam is one of the controversial spaces in Thailand, after 26 years of opening, many residents still request to open the dam permanently. The solution is not found for this case. Marginal rate of substitute and government’s intervention have been studied to find the possible recommendations.The marginal rate of substitute results also show that residents would trade economic well-being for social well-being, and this would help during decision-making in tradeoff analyses for this situation by the government. Changes in structure or institute, as in cases of government helping to create sustainable livelihoods by increasing capital for each well-being dimension, government public services, and job training, would increase social well-being. Government development of a satisfactory solution to the Pak Mun Dam problem would increase economic well-being and eventually increase overall well-being, though in this model, well-being dimensions are mediators.