The Nobel prizes lore awarded each year under the will of Alfred Nobel, Swedish chemist, engineer and inventor of dynamite, who died in 1896.
- The award is given to those who have made most outstanding contribution in the field of physics, chemistry and physiology or medicine, who have produced most distinguished literary work of an idealist tendency and those who have contributed most towards world peace.
- The Nobel Prize for economics was first awarded in 1969 and was established by Riksband, the Central Bank of Sweden.
- Other awards started in 1901.
- The fund is managed by a board of directors, the head of which is appointed by the Swedish Government.