Nobel Prize Nobel Prize The Nobel Prize (, ; Swedish definite form, singular: "Nobelpriset"; ) is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances. The will of the Swedish scientist Alfred Nobel established the five Nobel prizes in 1895. The prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901. In 1968, Sweden's central bank, Sveriges Riksbank, established the "Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel", which, although not being a Nobel Prize, has become informally known as
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