The Nobel prize is the first international award given out every year since 1901. Physics, chemistry, medicine, literature and peace are the five prizes to be won. In 1968, the Sveriges Riksbank, The Bank of Sweden, instituted the Prize in Economic Sciences in memory of Alfred Nobel, founder of the Nobel Prize. In the beginning, more than three prize winners could share a Nobel Prize, although this was never practiced. In 1968, the number of prize winners was restricted to three.
When someone wins the Nobel prize, they are awarded with a diploma, a medal, and a cash prize which varies every year. …
