The Nobel
Prize is the first international
award given yearly since 1901 for
achievements in physics, chemistry,
medicine, l iterature and peace. The
prize consists of a medal, a personal
diploma, and a prize amount.
In 1968, the Sveriges Riksbank (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. Paragraph four
of the Statutes of the Nobel Foundation
was amended in 1968, restricting the
number of prizewinners to only three.
Previously, a person
could be awarded a prize posthumously
if the nomination was made before
February 1 of the same year. Since
1974, the Prize may only go to a deceased
person who has been named as prize
winner for the year (usually in October)
but who dies before the Prize Awarding
Ceremony on December 10.
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