Difference between EXISTS and IN in SQL?

Question

What is the difference between the EXISTS and IN clause in SQL?

When should we use EXISTS, and when should we use IN

Answer 1

I'm assuming you know what they do, and thus are used differently, so I'm going to understand your question as: When would it be a good idea to rewrite the SQL to use IN instead of EXISTS, or vice versa.

Is that a fair assumption?

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Edit: The reason I'm asking is that in many cases you can rewrite an SQL based on IN to use an EXISTS instead, and vice versa, and for some database engines, the query optimizer will treat the two differently.

For instance:

SELECT *
FROM Customers
WHERE EXISTS (
    SELECT *
    FROM Orders
    WHERE Orders.CustomerID = Customers.ID
)

can be rewritten to:

SELECT *
FROM Customers
WHERE ID IN (
    SELECT CustomerID
    FROM Orders
)

or with a join:

SELECT Customers.*
FROM Customers
    INNER JOIN Orders ON Customers.ID = Orders.CustomerID

So my question still stands, is the original poster wondering about what IN and EXISTS does, and thus how to use it, or does he ask wether rewriting an SQL using IN to use EXISTS instead, or vice versa, will be a good idea?