Nobel Prize - Definition - Law Dictionary Home Dictionary Definition nobel-prize

Definition :

Prizes for the encouragement of men and women who work for the interests of humanity established by the will of Alfred B Nobel 1833 1896 the Swedish inventor of dynamite who left his entire estate for this purpose They are awarded yearly for what is regarded as the most important work during the year in physics chemistry medicine or physiology idealistic literature and service in the interest of peace The prizes averaging 40000 each were first awarded in 1901 The monetary value of the awards have increased each year to near one million U S dollars by the end of the 20th century