Nomination Process and Eligibility

Nominations for the Nobel Prize can only be submitted by authorised nominators, limited by different categories of Nobel Prize awards: members of the Swedish Academy, the Royal Swedish Academy of Sciences, the Karolinska Institute, and corresponding members of other academies, university professors, and other scholars.

Selection Process

The Nobel Committees evaluate the nominations and make recommendations to the awarding institutions. The Nobel Assembly at Karolinska Institute is responsible for awarding the Nobel Prize in Physiology or Medicine, the Royal Swedish Academy of Sciences for the Nobel Prize in Physics and Chemistry, the Swedish Academy for the Nobel Prize in Literature, the Norwegian Nobel Committee for the Nobel Peace Prize, and the Royal Swedish Academy of Sciences for the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel.

Prize Money and Award Ceremony

Each Nobel Prize consists of a diploma, a gold medal, and a cash award of 10 million Swedish kronor (approximately $1.1 million). The Nobel Prize award ceremony is always held on December 10, the anniversary of Nobel's death.