Complexity Heuristic. Social perception and economic evaluation of the “Smart Consultant” and the “Sophisticated Consultant”

Individuals tend to discount the advice they receive from expert consultants. Research has identified several factors responsible for this poor consideration despite the potential quality of the advice. Among the effective advice that can be provided, the literature has amply demonstrated the effectiveness in appropriate contexts of smart heuristics, i.e. adaptive, fast and frugal strategies as opposed to more complex indications based on formal statistical models. Through the administration of five evaluation and decision making scenarios to a sample of professionals, we measured the impression conveyed by a “Smart Consultant”, who advised the former, and a “Sophisticated Consultant”, who advised the latter. We also measured the willingness to pay for the advice received. The results suggested the effects of a “Complexity Heuristic” that can therefore be listed among the factors that prevent the implementation of advice that combines efficiency and effectiveness.