4 Diminishing Returns and Learning
Jessie Martinez
Diminishing returns in production occurs every time at some point when additional units of a variable input, given a fixed input, will start to increase output at a decreasing rate. Growing tomatoes in a planter box can initially have greater yields with fertilizer. However, the gains of yield by adding fertilizers will decline at some point with only one planter box. Your grandmother was right…You can have too many cooks in the kitchen. Adding a variable input to a fixed input will encounter diminishing returns.
Diminishing returns also occurs in our consumption of stimulus. The gratification we receive from exposure to stimulus will begin to decline at some point. Even if the carnival rides at the fair were free it would eventually get less and less fun and you would leave. Even if its free. Think of all the ways you encounter this concept. You can only binge watch so many episodes of your favorite show without it becoming boring. The fifth hamburger eaten will be less satisfying than the fourth hamburger during the evening meal. Diminishing returns occurs all around us.
What about learning? Diminishing returns occurs when we study trying to learn something. Shorter and frequent study sessions are more effective for long term learning. You have probably had the experience of reading a page and not remembering anything at the end of a long study session. You probably hit diminishing returns a while ago and should have taken a break earlier. If you learned less in the last ten minutes then the ten minutes prior, you have hit diminishing returns. People have different work habits and therefore study differently. Studies have generally recommended that if you are intensively studying and interacting with the material the session should not be more than forty-five minutes and then take a ten-minute break. Long term learning is better with shorter and more frequent study sessions. The reason, diminishing returns.
Questions:
- Describe your average study methods and timeline.
- Given an example from your life where diminishing returns was encountered.
- Do some research. How many hours a week per credit should you be studying. Does this estimate reflect your experience. Why or why not?
- Some have argued that diminishing returns happens in education in general. That is the greatest learning takes place when your younger therefore providing a greater return on investment for society. They argue that society resources (i.e. funding) should focus on pre-school education and less on college. Do you think this line of thinking is correct? Defend your answer.
The Study Cycle & Focused Study Sessions. Rhodes College. https://sites.rhodes.edu/academic-and-learning-resources/learning-tips/study-cycle-focused-study-sessions
Time Management Calculator. University of Illinois-Urbana. https://scs.illinois.edu/time-managment-calculator