network effect
/ˈnetwɜːrk ɪˌfekt/
phenomenon where a product gains value as more people use it
network effect in a sentence
“The telephone is a classic example of the network effect.”
Origin of network effect
Economic concept coined in the 20th century
Related Words
second-order effect
the consequence of a consequence
resilience
the capacity to recover quickly from difficulties
fractal
a complex pattern where the same pattern occurs at every scale
black swan
an unpredictable event that is beyond what is normally expected and has potentially severe consequences
emergence
the process where complex patterns arise from simple interactions
feedback loop
a system structure where outputs circle back as inputs