Social Value
Public support of public libraries is a reflection of, and therefore depends upon, the perceived value of the library to each taxpayer, family and community. Perceived value is the benefit a consumer expects to gain from a product or service, either tangibly or psychologically. The perceived value of a product or service has a direct effect on demand for that product or service.

The price or cost of an item is typically used as a way to determine its value to an individual. Where services are provided for free or at a cost not readily ascertainable to the user, as is the case with public libraries, other methods are needed to measure perceived value.

One way is to ask users to rank order or rate an item amongst a list of other items in order to determine preference. When asked which they would prefer to have on their own street in a new community, nearly half of Florida residents said they preferred a public library over a park, police station, job center or elementary school.

Figure 16 - Most Want to Have on Own Street

Public library users were also asked their perceptions on the impact a public library located near their home would have on property values. Over one-half thought that their property values would increase if a public library located nearby. See Figure 17.

Figure 17 - Effect on Perceived Property Values

Florida public library users were also asked how they viewed public libraries – as an essential service or cultural amenity. Over 80 percent saw public libraries as an essential service.

Figure 18 - Essential Service or Cultural Amenity

Lastly library users were asked whether they agreed or disagreed with three statements regarding public libraries.

Figure 19 - Agreement with Statements about Public Libraries

There are also methods that help quantify perceptions of perceived value by asking people to place dollar values on their choices. The fundamental monetary measure of value in economics is based on the concept of substitution and trade-offs that can be expressed in terms of willingness to pay or willingness to accept payment. Based on his or her economic situation, each individual can choose to consume private, public and other non-market goods, including library services. The trade-offs that people make as they choose less of one good and substitute more of another reveal something about the values people place upon these goods.

The contingent valuation method is a direct and explicit method that uses surveys to value public goods. The method circumvents the absence of markets for public goods by presenting the respondents with a hypothetical market in which they have the opportunity to “buy” or “sell” the good in question. The method is based on the individual’s own assessment of the good to be valued and aims at eliciting people’s willingness to pay in money amounts for a change in the provision of a non-market good, such as public libraries.

Florida public library users were asked both how much they would sell their library card for as well as how much they would pay to buy a card annually. The average “selling price” was $26.84 – although fully 56 percent of respondents said they would not give up their library card. The average price to “buy” a card was $31.34, although over 35% of respondents were willing to pay $31 or more per year. See Figure 20.

Figure 20 - Willingness to Buy or Sell a Public Library Card