Optimal loan periods for undergraduate recommended reading

Jonathan Warwick and Paul Barrington Taylor

Omega, 1980, vol. 8, issue 6, 671-679

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.

Date: 1980
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