Small steam turbines are generally less efficient than larger ones due to several factors related to size. The limitations in applying advanced thermodynamic cycles, such as reheat and regenerative cycles, in smaller plants contribute to this inefficiency. Additionally, design constraints like tip clearances in smaller turbines can hinder performance. The discussion emphasizes that the operational dynamics and thermodynamic principles are crucial in understanding these efficiency differences. Overall, size plays a significant role in the efficiency of steam turbine power plants.