Status : Verified
|Personal Name||Reyes, Dridge Paul A.|
|Resource Title||An economic valuation of the Quezon City Public Library - Main a mixed methods approach on a total economic value framework|
|Date Issued||June 2016|
|Abstract||An empirical economic valuation of a library's worth to its respective community is a vital indication of its import. This study employed both a Contingent Valuation Method and a Market Analogy Method as economic valuation tools in determining Non-Use Value and Use Value, respectively, of the Quezon City Public Library - Main Branch.
Contingent Valuation Method, measuring the Non-Use Value for Non-Users of the library, involves the creation of hypothetical scenarios and asking respondents to state their a) willingness to pay (WTP) for a good or service as to be able to access it, and b) willingness to accept (WTA) compensation in exchange of not being able to access a good or service anymore, both payable through public taxation. Library Non-Users were defined as those that have not visited the library for the past 12 months. Responses were analyzed and correlated based on their socioeconomic backgrounds of highest educational attainment, income status, and annual family income. Non-users were randomly handed questionnaires divided into ones that inform respondents of the baseline value, the actual tax they pay for the library, and ones with no baseline value, as to prevent response bias.
Respondents informed of the Baseline Vale reported a WTP and WTA of Php 547.91 and Php 581.26, respectively. Without outliers, the reported WTP and WTA are Php 399.57 and Php 581.26, translating to an increase of 2172.87% and 2161% from the baseline value of Php 17.58, respectively. Respondents uninformed of the Baseline Value reported a WTP and WTA of Php 2143 and PHP 1727.92, respectively. Without outliers, the reported WTP and WTA are Php 1366.57 and Php 1254.20, translating to an increase of 7673.45% and 9728.9%, respectively.
Data revealed that, in general, Quezon City Residents are appreciative of the public library and are more than willing to support it.
Market Analogy Method, measuring the Use Value of the Library Users, involves determining the private market value of the public goods being provided by the library. Questionnaires are distributed to library patrons asking respondents to list down the resources, services and activities they have made use of while inside the library. The reported usages were then quantified through the market value by determining private market analogies of respective goods and resources, like bookstores, internet shops, and other private establishments.
A basic value of Php 687.68 was determined thru the combination of the total average value per user of the library as an information source, as an eGovernment service provider, and as a Computer and Internet Service provider. An added value of Php 38 was determined for QCPL as a Place -- for meetings, group works, and self-study among others. The Total Use Value of QCPL is determined to be Php 50,253,674.40 with a user population of 80,280. Compared to the 2015 budget of Php 48,551,446.00, this implies that for every Php 1.00 invested in the library, approximately Php 1.04 is returned to the users in goods and services.
General analysis shows that, while it is worth it to invest in the QCPL, the return of investments can be further boosted by either promoting more utilization per user, or increasing its user population.
As a whole, the researcher concludes that, although QCPL suffers from low use value utilization, there is a great potential from the non-users, with their high valuation, to abet the low user population of the library.
|Degree Course||Bachelor of Library and Information Science|
|Keyword||Contingent valuation; Marketing research; Public libraries|