When Is a Contrarian Adviser Optimal?

We compare contrarian to conformist advice, a expert being one whose preference bias is against the decision-maker’s prior optimal decision. Optimality of an depends on characteristics information and learning. If either fully informed or fine can be acquired cheaply, then for symmetric distributions F state, (contrarian) superior if single peaked (bimodal). only coarse acquired, acquires more average hence superior. verifiable, has less incentive hide unfavorable evidence again (JEL D72, D82, D83, G34, H71, I12, L94)