Abstract

The purpose of this study is to develop a tool for measuring the value of university library services to demonstrate the efficiency and economic viability of university library operations. To achieve this, a tool was designed to assess the economic value of university library services by measuring users’ Willingness to Pay (WTP) for various service items. The valuation method employed the Contingent Valuation Method (CVM), which is widely used for evaluating non-market goods, and both online and offline surveys were conducted. Among the 537 respondents, valid data from 348 participants were utilized to analyze WTP and apply it to develop an economic evaluation tool. The value measurement tool developed in this study is designed to present investment outcomes clearly in numerical terms through the calculation of Return on Investment (ROI). To validate the tool’s effectiveness, it was applied to a university selected as the top-ranked institution in Group A of the 2023 university library evaluation. The results showed an ROI of 42.26% for University A and 65.03% for College A. This study is significant in that it establishes a foundation for enhancing the efficiency of university library operations and securing budgets.