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Keywords Value analysis, Books, Borrowing, Public libraries, Modelling
Abstract In the context of statistical research into the economic value of public library services, a model was developed to demonstrate the economic benefit when books are borrowed rather than bought. The model is based on the number of book reads rather than on book purchases or library issue counts. Different assumptions applied to the model cover the hardback.paperback distinction and different levels of library costs. The most significant variable, however, is shown to lie between books that are "read through" and those `frequently consulted" for information and educational benefit. Maximising book loans through the public library is shown to be not only in the interest of individual users, but also to be economically in the public interest.
1. Introduction
The main purpose of this paper is to present a new model that helps explain some important features of public library book lending. The first part of this paper, however, describes the context in which the model was developed and gives a brief summary of "The economic value of public libraries" research project.
1.1 The research project
The broad aim of the research was to find a way or ways of assessing the economic impact of the public library service - its value to the user. The assessment of benefits realised by users of library and information services has typically been viewed from political, social and technological standpoints. Benefits can also be assessed by applying the techniques and concepts of other disciplines - in this case, economics.
In common with the approach of other commentators three levels or topics were identified for study. In order of priority these were:
(1) assessing value and economic benefit;
(2) applying economic theory to various management issues; and
(3) considering the question how far users should be charged for public library services - "fee v. free?"
The research concentrated principally on the first two of these. The charging issue has been actively and exhaustively debated in the past (see for example Adam Smith Institute, 1986; Giacoma, 1989; Usherwood, 1989; Egholm and Jochumsen, 2000).
The Libraries and Information Commission funded this project as part of its 1998 "Value and impact" call. Responsibility subsequently passed to Resource (The Council for Museums,...