This effect goes back to the steam engine era. Steam engines were sometimes built with multiple cylinders, each successive cylinder larger, and running at lower pressure, than the previous cylinder. "Triple expansion" seemed to be the upper limit of cost-effectiveness. Some quadruple expansion engines were used successfully, but not many. At least one quintuple expansion engine was built, and used in a Norwegian fishing boat.[1]

[1] http://www.warsailors.com/singleships/kos.html