Blended Learning as a Risk Diversification Strategy: A Mathematical Foundation and a Monte Carlo Simulation

Abstract

The present study discusses the applicability of mixing multiple pedagogical treatments (e.g., face-to-face classroom instruction and e-learning), or blended learning, as a means of risk diversification on students’ learning outcome in foreign language teaching. Most of studies in foreign language teaching so far have solely focused on the effect of pedagogical treatments, but not the risk, which is represented by dispersion on a learning outcome measure, or volatility in the measurement. In everyday teaching practice, the risk of pedagogical treatments is yet another important viewpoint to concern as well as the effect of treatments. This paper introduces a mathematical foundation of risk diversification, which has been commonly applied in finance and risk management. Then, a Monte Carlo type of numerical example simulating a blended learning setting was shown to confirm how the risk diversification effect works.