The Nobel Prize 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 the Nobel Prize in Economics. The prizes are widely regarded as the most prestigious awards available in the fields of chemistry, economics, 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 Prizes were awarded 590 times to 935 people and organizations. With some receiving the Nobel Prize more than once, this makes a total of 27 organizations and 908 individuals. The prize ceremonies take place annually in Stockholm, Sweden . Each recipient receives a gold medal, a diploma, and a sum of money that has been decided by the Nobel Foundation. Medals made before 1980 were struck in 23 carat gold, and later in 18 carat green gold plated with a 24 carat gold coating. The prize is not awarded posthumously; however, if a person is awarded a prize and dies before receiving it, the prize may still be presented. A prize may not be shared among more than three individuals, although the Nobel Peace Prize can be awarded to organizations of more than three people.
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