An Economic Valuation of the Quezon City Public Library – Main: A Mixed Methods Approach on a Total Economic Value Framework

Abstract

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.

Data revealed that, in general, Quezon City Residents are appreciative of the public library and are more than willing to support it with the patrons Willing to Pay and Willing to Accept at least a tenfold of the baseline value.

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. A primary value 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 was determined for QCPL as a Place --- for meetings, group works, and self-study among others. Results imply that for every $1.00 invested in the library approximately $1.04 is returned to the users in goods and services.

As a whole, the researchers conclude 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.