“…Since the birth of DEA, a lot has been done in studying the theory of DEA, and we refer the interested readers to Cook & Seiford (2009) which is a comprehensive review of the DEA theory in the past three decades. Thousands of applications of DEA could be found in literature, be the DMUs schools (Grosskopf et al, 1999), hospitals (Hofmarcher et al, 2002), banks (Khankhoje & Sathye, 2008;Ar & Kurtaran, 2013;Ayadi, 2014), hotels (Hu et al, 2014), local government entities (Fan et al, 2013), and supply chains (Salhieh, 2011), just to name a few. Recently, Anadol et al (2014) applied the tool of DEA to the problem of valuing private companies, which is an innovative application of the DEA method.…”