What Is the Relationship between Metcalfe’s Law and the Concept of “Network Effects”?

Metcalfe's Law is a specific, quantitative expression of the broader concept of "network effects." Network effects state that a product or service gains additional value for each new user who joins it. Metcalfe's Law attempts to quantify this gain by proposing an exponential (n^2) relationship.

In essence, Metcalfe's Law is one model used to measure the strength and value accretion of a network effect.