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Monday 7 May 2012

An Overview of the Nobel Prize

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What is the Nobel Prize?

The Nobel Prize is awarded to outstanding achievements in the following categories:
  • Physics
  • Chemistry
  • Physiology or Medicine
  • Literature
  • Peace
  • Economics
Since 1901, the international prize is administered by the Nobel Foundation in Stockholm and awarded in each category each year. The Economics category is a relative newcomer, having been added in 1968. Each prize consists of a medal, a personal certificate or diploma, and a cash award.
The Nobel Foundation was formed at the bequest of Alfred Bernhard Nobel (1883-1896), a 19th century Swedish technologist noted for the invention of dynamite, as well as for being an engineer, chemist, innovator, and armaments manufacturer. Alfred Nobel amassed a considerable fortune during his lifetime and in his last will and testament, established the Nobel Foundation, possibly in answer to an erroneous obituary in a French publication that criticized him for the invention of dynamite, then considered to be useful mostly during war. Nobel is said to have established the Foundation in order to leave a better legacy to the world.
Who selects the Nobel Prize recipients?
In his will, Alfred Nobel designated the institutions that were to award the prizes:
  • The Royal Swedish Academy of Sciences for the Nobel Prize in Physics and Chemistry
  • The Karolinska Institute for the Nobel Prize in Physiology or Medicine
  • The Swedish Academy for the Nobel Prize in Literature
  • a committee in the Norwegian Parliament for the Nobel Peace Prize
  • The Royal Swedish Academy was chosen in 1968 to select the Economic Prize Laureates beginning in 1969

How are the nominees picked?Each year, the various Nobel Committees send thousands of invitations to academy members, university professors, scientists, past Nobel Prize recipients, government officials, and other influential persons in various fields. The nominations go out to a wide selection of universities and countries so as to get as broad a nomination spectrum as possible from thousands of sources. Nominators submit a nomination form for their preferred candidate. More than one Laureate may be selected in each category. Details of the entire process have been kept secret for 50 years to eliminate as much as possible undue influence in the selection process.
How are the nominees announced?
On the day each awarding institution selects its candidate(s), the announcement is made public at a press conference. Minutes before each press conference, the Nobel Laureates are informed via telephone that they have won the Prize in their respective category. Through the years, the 'Magic Call' has come through while the Laureate was in flight, at the dentist, in a pub, and various other places. Often, disbelief or feeling that a prank has been perpetuated on their behalf is the first reaction from the Laureates.
Where are the awards given out?
All Laureates except the one for Peace receive their medal, diploma, and monetary verification at an awards ceremony in Stockholm, Sweden that takes place in December. The Economics Laureates receive their awards at a similar ceremony in Oslo, Norway. Royalty from both host countries are represented during the ceremony. In addition, lectures are presented by the Laureates, before or during the time of the ceremony. The Peace Laureates give their lectures during the Oslo ceremony while all other Laureates present theirs during the few days prior to their ceremony in Stockholm. Every award ceremony is followed by a banquet by the Laureates, their guests, and assorted dignitaries and officials, providing a memorable end to the 'Magic Week' in Stockholm and Oslo.
Many institutions vie for the prestige and other benefits having a Nobel Prize recipient on staff can bring. Recipients continue to be well respected after receiving their Nobel Prizes and are often in a position to command increased funding and acknowledgement for future research and other endeavors.

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