Marginal rate of substitution of multidimensional well-being for affected residents of the dam, Pak Mun Dam.

The marginal rate of substitution shows that negatively affected residents Pak Mun Dam are willing to trade three units economic well-being gain one more unit social well-being. Marginal (MRS) provides important information the government regarding such trade-offs. Given limited budget and resources, optimal point combination these dimensions should be determined in order provide better strategy policy improve conditions for by dam’s construction. Structural Equation Model (SEM) was used find a standardized estimate each dimension it MRS calculation.