Nobel Prize

The Nobel Prizes (SingularPlural-svNobelprisetNobelprisen) are annual international awards bestowed by Scandinavian committees in recognition of cultural and scientific advances. They were established in 1895 by the Swedish chemist Alfred Nobel, the inventor of dynamite. The prizes in Physics (Nobel Prize in Physics), Chemistry (Nobel Prize in Chemistry), Physiology or Medicine (Nobel Prize in Physiology or Medicine), Literature (Nobel Prize in Literature), and Peace (Nobel Peace Prize) were first awarded in 1901. The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel (Nobel Memorial Prize in Economic Sciences) was instituted by Sveriges Riksbank in 1968 and first awarded in 1969. Although this is not technically a Nobel Prize, its announcements and presentations are made along with the other prizes. Each Nobel Prize is widely regarded as the most prestigious award in its field.

The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics, the Nobel Prize in Chemistry, and the Nobel Memorial Prize in Economic Sciences. The Nobel Assembly (Nobel Assembly at Karolinska Institutet) at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine and the Swedish Academy grants the Nobel Prize in Literature. The Nobel Peace Prize is not awarded by a Swedish organisation but by the Norwegian Nobel Committee.

Each prize recipient (laureate) is presented with a gold medal, a diploma, and a sum of money which depends on the Nobel Foundations income that year. In 2009, each prize was worth 10 million SEK (Swedish krona) (c. US$ (United States dollar)1.4 million). The prize can not be awarded posthumously, nor may a prize be shared among more than three people. These strict rules have been accused of depriving worthy nominees of an award. The awarding committees have also been criticised for failing to award the Peace Prize to Mahatma Gandhi and other high-profile candidates.