Indeed, they are rationalizations. Whether out of fear of the unknown or attachment to what he has. Our cognitive bias is such that losing something feels worse

Indeed, they are rationalizations. Whether out of fear of the unknown or attachment to what he has. Our cognitive bias is such that losing something feels worse than gaining. I think some are more or less novelty-seeking by nature, but the environment around you has an impact. If I think of it as a strategy it makes more sense, i.e. "doing the same thing has worked well and will probably continue to do well, so I'll continue to bet on it". That hardly demands all the extra pre-conceived notions, but people view challenges to their ideas as a threat when they've made them part of their identity.