Abstract
We study the information-theoretic limits of learning a one-hidden-layer teacher network with hierarchical features from noisy queries, in the context of knowledge transfer to a smaller student model. We work in the high-dimensional regime where the teacher width scales linearly with the input dimension -- a setting that captures large-but-finite-width networks and has only recently become analytically tractable. Using a heuristic leave-one-out decoupling argument, validated numerically throughout, we derive asymptotically sharp characterizations of the Bayes-optimal generalization error and individual feature overlaps via a system of closed fixed-point equations. These equations reveal that feature learnability is governed by a sequence of sharp phase transitions: as data grows, teacher features become recoverable sequentially, each through a discontinuous jump in overlap. This sequential acquisition underlies a precise notion of \textit{effective width} -- the number of learnable features at a given data budget -- which unifies two distinct scaling regimes: a feature-learning regime in which the Bayes-optimal generalization error scales as , and a refinement regime in which it scales as , where is the exponent of the power-law feature hierarchy. Both laws collapse to the single relation . We further show empirically that a student trained with \textsc{Adam} near the effective width achieves these optimal scaling laws (up to a small algorithmic gap), and provide an information-theoretic account of the associated scaling in model size.