Nobel Prize

The Nobel Prize (, Swedish definite form, singular: Nobelpriset; Norwegian: Nobelprisen) is a set of annual international awards bestowed in a number of categories by Scandinavian committees in recognition of cultural and/or scientific advances. The will of the Swedish philanthropist inventor Alfred Nobel established the prizes in 1895. The prizes in Physics, Chemistry, Physiology or Medicine, Literature, and Peace were first awarded in 1901.

The Peace Prize is awarded in Oslo, Norway, while the other prizes are awarded in Stockholm, Sweden. The Nobel Prize is widely regarded as the most prestigious award available in the fields of literature, medicine, physics, chemistry, peace, and economics.

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 at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine; the Swedish Academy grants the Nobel Prize in Literature; and the Nobel Peace Prize is not awarded by a Swedish organisation but by the Norwegian Nobel Committee.

Each recipient, or laureate, receives a gold medal, a diploma and a sum of money, which is decided by the Nobel Foundation, yearly. As of 2012, each prize was worth 8 million SEK (c. US$1.2 million, €0.93 million). The prize is not awarded posthumously; however, if a person is awarded a prize and dies before receiving it, the prize may still be presented. Though the average number of laureates per prize increased substantially during the 20th century, a prize may not be shared among more than three people.

Read more about Nobel Prize:  History, Award Process, Award Ceremonies, Refusals and Constraints

Famous quotes related to nobel prize:

    Parents can fail to cheer your successes as wildly as you expected, pointing out that you are sharing your Nobel Prize with a couple of other people, or that your Oscar was for supporting actress, not really for a starring role. More subtly, they can cheer your successes too wildly, forcing you into the awkward realization that your achievement of merely graduating or getting the promotion did not warrant the fireworks and brass band.
    Frank Pittman (20th century)