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Brookline Resident Wins Nobel Prize for Economics

Alvin Roth's work has shaped how new doctors are assigned to medical residency programs.

Brookline resident Alvin Roth, 60, of the Harvard Business School, was awarded the Nobel prize for economics, according an article from the New York Times.

Roth won the award with Lloyd Shapley, 89, a professor emeritus at University of California Los Angeles. Each will be awarded a prize of about $1.2 million.

The pair were awarded for their work on market design and matching theory, in relation to how people and companies make matches when prices are not available for comparison, according to the article.

Roth has done work on a program that matches hospitals with new doctors, while some public school systems have used an algorithm based on his work to help assign students to schools, the article says. 

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