Prisoner's dilemma in b-school decision timing

While this is not a classic "prisoner's dilemma," I still find that business school application ecosphere, by its nature a process where a decision to apply to additional schools by the applicant is based on the outcome of the earlier acceptance decision by schools, is an interesting case to consider. As I am counting days down to Feb 1 Sloan decision, I am thinking about the "optimal" strategy on timing for b-schools. Specifically, I believe Sloan and other schools with a late R1 admissions notification deadline are disadvantaging themselves. Why? Because before I know whether or not I got into Sloan, I have to make a decision whether to apply to other schools in Round 2. Thus the likelihood of me applying, getting into, and eventually choosing another school increases. Of course, since Sloan is my top choice, I would choose it regardless of R2 outcome, but there are multiple cases where candidates could be swayed. I am willing to bet that there would be a noticeable increase in R1 yield if the decisions were released before R2 decision deadlines for competitors. I do believe that a relatively "late" R1 application deadline is beneficial in this game, because you get better applications as candidates have had a chance to practice their latent art of essay writing. So - optimal solution: INSTANT admission decision. How awesome would that be?

And yes, I am just picking on Sloan cause I would love to get the wait over with :).