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Optimal loan periods for undergraduate recommended reading

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  • Warwick, Jonathan
  • Taylor, Paul Barrington

Abstract

A model is developed for the total expected utility to borrowers of an undergraduate text book recommended by a lecturer. It takes account of the peaked demand for a book following a recommendation, measures of borrower satisfaction which involve both waiting time and reading time (loan period), and the persistence of would-be borrowers in requesting books not found on the shelves. Some parameters of the model were estimated by a method which elicited preferences of students in various choice situations; other parameters were estimated by librarians. Some specific conclusions are drawn regarding the optimal loan period of books in terms of their type and the number of copies held.

Suggested Citation

  • Warwick, Jonathan & Taylor, Paul Barrington, 1980. "Optimal loan periods for undergraduate recommended reading," Omega, Elsevier, vol. 8(6), pages 671-679.
    • Handle: RePEc:eee:jomega:v:8:y:1980:i:6:p:671-679
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