There seem to be some very bitter, frustrated FOs on this thread, but thankfully many more calm and measured ones.
A decent Captain will always value the opinions of his/her FO, but may not always agree with them. As said before, it isn't a democracy and the steepness of the gradient has to vary with the circumstances. What the FO may perceive as arrogance could be cultural barriers in this multi-national industry, or could be a Captain become a little frustrated at a pushy, cocky FO, just as much as it may be an attitude problem in the Captain. There are just as many bolshy FOs as Captains, may be more due to them failing command selection/training.
A good captain will try to allow the FOs as much latitude as possible to expand their experience, knowledge and capability as circumstances allow, passing on tips and techniques without harassing or hounding the FO, in a constructive manner. At the same time, they need to get the primary job of flying the aircraft safely and economically. Sometimes, the conditions of the day don't lend themselves to a touchy-feely cockpit. Sometimes the Captain may be tired, a little under the weather or having issues at home which don't put them in the mood for chattiness. It's not a club or school on the line, so don't always expect that environment.
I stick to a simple rule - don't put the aircraft in a position that either pilot is not happy with. If the FO is uncomfortable with something, it's quite possible that they have seen some problem I have missed, so we discuss it. If I am confident that the matter is not a problem, the discussion should allay the FO's concerns. It would be very rare that a Captain would just overrule an FO without discussion (where time permits) or good reason.