| Abstract: | Abstract In seeking to provide a more cost-effective means to substitute for gaps in the collection the University of Hong Kong Libraries began to consider the feasibility of combining purchase with interlibrary loan borrowing in the fall of 2001. From 2002 the University of Hong Kong Libraries implemented a new initiative, called the “Overseas Book Loan Initiative,” to purchase interlibrary loan requests for locally unavailable monographs instead of borrowing them from overseas. This paper presents the University of Hong Kong model of “purchase on demand,” and attempts to study whether purchase instead of borrow is a better alternative for the University of Hong Kong Libraries' situation, given the local factors and circumstances. The four underlying factors: speed, subsequent use, content appropriateness, and cost of transaction are examined by analyzing actual data collected. Evidence from the study suggests that purchasing instead of borrowing is a better option if the library can continue to support the higher out-of-pocket costs to achieve the benefits of improving patron support, addingindemand materials to the collection, and optimizing the use of resources. |
