• Journal of the Korean Society for information Management
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• v.25 no.3
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• pp.377-392
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• 2008

The need for overall assessment of economic effectiveness of library culture program has been suggested, as its importance continues to grow. Our study proposed a new assessment method by applying DM format and IBM format to contingent valuation method that has been used for analyzing the economic value of culture program. This study also illustrates the process through case analysis so that the public library can apply this model. It is meaningful that the study provides basic framework to evaluate the fair value of the public library by minimizing the bias that the contingent valuation method has.

• Journal of the Korean Society for Library and Information Science
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• v.46 no.4
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• pp.61-76
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• 2012

The research reports the results from an investigation of various measurement elements and techniques appropriate for the economic assessment of academic libraries, with a view to apply them in future evaluation of academic libraries in Korea. Two libraries participated in the pilot study. In one library, CVM (contingency valuation method) was applied to services ranging from circulation, electronic collection, reference, user education and facility. In the second library, three different methodologies--time value, alternative service value and CVM--were all applied to measure the value of electronic collection. The research provides analyses of measurement elements used, study procedures and measurement results. Based on these analyses, the study also makes suggestions in the areas of measurement goals, service, users and the calculation of B/C ratios that need to be taken into consideration in order to execute reliable and valid assessment of academic library's value.

• Journal of the Korean Society for Library and Information Science
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• v.37 no.4
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• pp.53-68
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• 2003

This study is an attempt to re-examination of information value and it´s economic efficiency from the viewpoint of information science. This study focuses on the analysis of the considerable discussions about added value of information and cost-benefit analysis of information. This study shows that the researches of information value or value-added information have dealt with the effect of information use and the measuring information efficiency concerns cost-benefit analysis of information services. A case study on ‘the national digital library program’ is also demonstrated as a pilot model for the cost-benefit analysis of information services.

• Journal of the Korean Society for information Management
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• v.22 no.3 s.57
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• pp.147-162
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• 2005

This study aims to suggest a new approach to economic valuation of the special library, in response to the necessity of economic justification of the special library operated by firms and research institutes. Benefit measurement elements and analysis methods to be used in the study were derived through feasibility evaluation on models in previous studies, and objectivity and applicability were the criteria for feasibility evaluation. Depending on which type of resources are used in providing service, different benefit measurement elements and methods were applied. Based on this, calculation formula for service valuation of special library was presented. The development of analysis model for economic valuation of special library made it possible to objectively prove the value of the special library, and is considered to provide an opportunity to publicize the real value of the special library.

• Journal of Korean Library and Information Science Society
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• v.45 no.3
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• pp.489-511
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• 2014

The purpose of this basic study is to examine the economic feasibility analysis of Busan Central Library, which was included the construction feasibility analysis conducted as one part of the Busan Central Library Construction Master Plan. To achieve the purpose of this study, it was accomplished to do Benefit-Cost analysis, Net Present Value, Internal Rate of Return. CVM(Contingent Valuation Method) was used for calculating the benefit; we investigated two CVMs for Busan Central Library, which are for central construction site and for outer construction site. The results show that the construction of Busan Central Library in the central site would be feasible from the economic point of view. On the contrary, the construction in the outer site would not be feasible economically.

• Journal of the Korean Society for Library and Information Science
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• v.44 no.4
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• pp.231-247
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• 2010

This research examines a number of theoretical and practical issues when measuring the economic value of library services. In particular, using two recent studies conducted in Korea as illustrations, the study shows how various measurement decisions affect the final outcomes in the economic valuation of library services and thus points to the need for a more reliable study design. Specific areas of measurement discussed include the following: scope of measurement, application of CVM(Contingent Valuation Method), time vs. monetary value measurement, dealing with outliers, allowing alternatives, and the use of estimation. ROI(Return on Investment) scores or benefit cost ratios vary significantly according to different measurement choices even in the same study. There is a need for collecting qualitative data that complements the quantitative data typically collected in economic valuation studies. The outcome of economic valuation of library services should be considered as one of many representations of library values. Practitioners and researchers should exercise caution in interpreting those results but be able to leverage them to better communicate the value of library services.

• Journal of the Korean Society for information Management
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• v.24 no.1 s.63
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• pp.187-208
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• 2007

This study aims to present a new approach to measure the economic value of the public libraries, identifying and suggesting the modified contingent valuation method (CVM) application. The modified CVM, which applied Dissonance Minimizing (DM) format, is presented as a new approach. A cost-benefit analysis is used as a tool to determine if the benefits of public libraries outweigh the cost incurred in providing the services. The benefits of public libraries are based on estimates of how much the user is willing to pay for the library services and costs are based on the prices of providing the services. A comparison between two methods are conducted in a case study in order to measure the economic value of 'J Public Library'. The study also conducts a case study to analyse the WTP value of the 'J Public Library' and demonstrates how public libraries approach the their local studies.

• Journal of Korean Library and Information Science Society
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• v.49 no.3
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• pp.133-168
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• 2018

The study aims to present function and role of the library in the age of sharing economy. For this purpose, through theoretical discussion and review of the characteristics and benefits of the sharing economy, the potential and value of a sharing economy were analyzed and the role of libraries was compared and analyzed in terms of the value of a sharing economy. In this study, the values created from the sharing economy were divided into five categories: Economic value, Social value, Community value, Technical value, and Environmental value, showing that the potential value of a sharing economy is similar to the role, function and value of a library. Based on this, it presented a function and role to realize the sharing value of a library in the era of a sharing economy.

• Journal of the Korean BIBLIA Society for library and Information Science
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• v.33 no.3
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• pp.179-203
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• 2022

This study purposed to measure the economic value of repository services of the National Open Access Platform (AccessON), namely Self Archiving and Journal Repository. The value of Self Archiving was measured by applying time-saving value and the value of Journal Repositories by applying market analogy. Based on existing statistics, in-depth interviews with service beneficiaries and stakeholders, and a survey administered to 1,313 researchers, the value of Self Archiving was estimated to be 145 million won and an additional 12 million won with the OA legalization. The value of Journal Repositories was estimated to be 31.2 billion won. The total value of the repository services was 31.35 billion won over the 8-year business period. This result presented an estimated economic value of a national OA repository from the key beneficiaries' perspectives.

• Journal of the Korean Society for Library and Information Science
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• v.43 no.2
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• pp.29-51
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• 2009

Recently, the policies and management of public libraries have been evaluated by the Ministry of Public Administration and Security, the Ministry of Culture, Sports and Tourism of the central government, and Gyeonggi Province in Korea. However, these evaluations do not meet the international trends where simple input-output measures are being overtaken by outcomes calculating broad socio-economic values. Taking these facts into consideration, the main goal of this paper is to analyze the limitations of the recent library evaluation cases and to suggest some desirable directions for the evaluation of the socio-economic values (i.e., impact and benefits) of public libraries.