Nobel Prize the "Nobel Prize in Economics". The prizes are widely regarded as the most prestigious awards available in the fields of chemistry, literature, peace activism, physics, and physiology or medicine. The Royal Swedish Academy of Sciences awards the Nobel Prize in Chemistry, the Nobel Prize in Physics, and the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel; the Nobel Assembly at the Karolinska Institute awards the Nobel Prize in Physiology or Medicine; the Swedish Academy grants the Nobel Prize in Literature; and the Nobel Peace Prize is awarded by the Norwegian Nobel Committee. Between 1901 and 2018, the
Nobel Peace Prize at the time of Nobel's death. The Norwegian Nobel Committee speculates that Nobel may have considered Norway better suited to awarding the prize, as it did not have the same militaristic traditions as Sweden. It also notes that at the end of the 19th century, the Norwegian parliament had become closely involved in the Inter-Parliamentary Union's efforts to resolve conflicts through mediation and arbitration. The Norwegian Parliament appoints the Norwegian Nobel Committee, which selects the Nobel Peace Prize laureate. Each year, the Norwegian Nobel Committee specifically invites qualified people to submit nominations for the Nobel Peace Prize. The statutes of