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The reason for this is that the number of possible sub-groups of network participants is 2<sup>''N''</sup> − ''N'' − 1, where ''N'' is the number of participants. This grows much more rapidly than either
* the number of participants, ''N'', or
* the number of possible pair connections, ''N''(''N'' − 1)/2 (which follows [[Metcalfe's law]]).
so that even if the utility of groups available to be joined is very small on a peer-group basis, eventually the [[network effect]] of potential group membership can dominate the overall economics of the system.
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==Quote==
From David P. Reed's, "The Law of the Pack" (Harvard Business Review, February 2001, pp 23–4):<!--Not a proper reference citation; please use
:"[E]ven Metcalfe's law understates the value created by a group-forming network [GFN] as it grows. Let's say you have a GFN with ''n'' members. If you add up all the potential two-person groups, three-person groups, and so on that those members could form, the number of possible groups equals 2<sup>''n''</sup>. So the value of a GFN increases exponentially, in proportion to 2<sup>''n''</sup>. I call that Reed's Law. And its implications are profound."
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* [http://kotisivukone.fi/files/50ajatelmaa.ajatukset.fi/tiedostot/Others/kilkki_kk-law.pdf KK-law for Group Forming Services], XVth International Symposium on Services and Local Access, Edinburgh, March 2004, presents an alternative way to model the effect of social networks.
{{DEFAULTSORT:Reed's Law}}
[[Category:Networks]]
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