This report describes a 1980/81 project concerned with the formulation and validation of a model for determining whether cancellation and/or consolidation of serial subscriptions and holdings should be recommended to maximize the cost-effective use of combined collections and staff resources in the Boston Library Consortium (BLC). The publication begins with a brief summary of project methodology, which comprised the production of computer-generated serial subject lists, a use study on selected titles in chemistry and political science, a simulated cancellation of these titles, a second use study to evaluate the model developed for consolidation of serial holdings, and a confidential institutional questionnaire on serials cancellation and cooperative action concerns. Eleven exhibits which comprise the largest part of the report include (1) various listings of serial titles used in the BLC study, with notations of serial subject, format, location, holdings, usage, cost, indexing source, and applicability for simulated removal; (2) memos, questionnaires, and an instruction manual used in the study; and (3) the results of the institutional questionnaire on serial policy and cooperative action. The report concludes with an outline of BLC serials automation efforts and the cooperative serials review, as presented at a December 1981 meeting of Massachusetts library cooperative groups. (Author/ESR)