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It depends on the situation/context.
Generally, knowledge is better than ignorance, because truly understanding the situation allows one to take action accordingly and make fewer mistakes or learn from those mistakes.
In special cases, though, when the knowledge is unpleasant/painful/traumatizing, and there is nothing you could do to improve your situation even armed with that knowledge, ignorance may be beneficial in the sense that it spares the emotional damage.
e.g. that steak eating guy in 'the matrix'