EV13, just think that different circumstances can happen. For example, this forum contains the post of one guy, who was admitted this year to INSEAD (I don't remember whether directly or from waitlist), but at that moment he had been admitted to IESE with scholarship, and he even had paid the installment. So decision to choose INSEAD could cost him around EUR20k. I don't remember what school did he choose, but I truly believe this decision was not an easy for him.