MCE7
Then what's the point of the ED "Statement of Commitment"?
"As an Early Decision candidate to Columbia Business School, I am committed to attending Columbia Business School, and will withdraw all applications and decline all offers from other schools upon admission to Columbia Business School."
I think this is really the discourage individuals from applying in this round if they are not 100% serious about Columbia as their first choice. I think it is useful in that it allows them to view candidates that place Columbia as their top choice (worst case top 2-3 if they are debating to "honor" the statement of commitment). From my view the adcom takes these applicants and views getting about a 90-95% yield of the offers made and thus tries their best to identify candidates that fit needs for the upcoming class and would be successful in the program.
The ED program truely serves 2 benefits in my view. It gives the adcom a subset of applicants that are more likely to accept an offer increasing their yield percent and helping their rankings. It allows applicants to potentially find out early about getting in to school and only having to apply to 1 or 2 schools as opposed to their full suite.
I do believe applying to any early round gives applicants a slight advantage as adcoms are more lenient during these rounds. I have no proof or evidence of this being the case, just my view of this round for the schools that offer it. With that said, its not like everyone gets in. I still think you would have had to be competitive during the regular rounds to gain admission during this round.