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This paper values the contributions Victorian public libraries make to the community by applying a formal cost benefit assessment framework - the preferred evaluation framework of economists - to articulate and quantify in dollar terms the benefits conferred by public libraries to library users and nonusers. The annual costs are contrasted with an assessment of annual benefits using three different valuation techniques: contingency valuation, travel costs and financial savings. The results identify that the benefits of public libraries significantly outweigh their costs.
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