Cost‐benefit analysis: a disparagement of its misuse and misexplanation

Purpose – The purpose of this paper is to argue that when managing strategically, a library administrator might want to use cost‐benefit analysis to justify spending and, consequently, would need to understand this methodology. Design/methodology/approach – The paper discusses and gives examples to illustrate how others have needed a better knowledge of cost‐benefit analysis. Findings – It is helpful for library managers to have a proper knowledge of cost‐benefit analysis. Practical implications – This provides one methodology that librarians should consider when contemplating what purchases to make. Original/value – This paper will help librarians better manage their libraries by making them aware of cost‐benefit analysis.