Nobel Prizes

Nobel Prizes, annual awards given to individuals or institutions judged to confer “the greatest benefit on mankind” in each of 6 fields: physics, chemistry, physiology or medicine, literature, peace, and economics. Prizes for the first 5 categories have been given since 1901; the economics prize was first awarded in 1969. The winner of the peace prize is decided by a committee of the Norwegian parliament; the other winners are determined by the corresponding bodies in Sweden: the Royal Academy of Sciences, the Caroline Medico-Chirurigal Institute, and the Academy of Literature. Winners receive a gold medal and a cash payment, now consisting of several hundred thousand dollars. The prize money comes from the foundation set up by Alfred Nobel.

See also: Nobel, Alfred Bernhard.