<p>It would seem that the schools that have ED 1 and ED 2 would have higher yield numbers and a smaller disparity between the SAT scores of admits and enrollees than schools with only one early decision program. In the extreme, a school like Colgate which extends ED 2 to the bitter end would have the most favorable yield numbers but lower publicized SAT scores relative to schools that have only ED 1. Clearly paying students with lesser credentials can, and do stagger their early decision applications by applying to a far reach ED 1 and a closer reach ED 2. Seems like a win/win for the rich students and the well endowed institutions. This is nearly as inequitable as what goes on with waitlists where paying students are even more favored and yield numbers can be more grossly manipulated because admission from waitlists is rarely need blind and students are often required to verbally commit before they are sent the enrollment materials.</p>