@Tigerle: “ED cannot be more binding than an actual acceptance”
??? The U of C already accepted him.
Anyway, I can certainly see someone choosing the U of C over Oxford if costs aren’t a concern.
Good relations with the alma mater HS could certainly be important too. I have degrees from an Ivy-equivalent and M7 b-school and my HS network probably has been second-most helpful in terms of landing jobs (the types that M7 MBAs aim for).