The economic value of book borrowing from public libraries: An optimisation model

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.