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The Nobel Prize was established in 1895 by the Swedish chemist and inventor of dynamite Alfred Bernhard Nobel, therefore its name. It was first awarded for Physics, Chemistry, Physiology or Medicine, Literature, and Peace in 1901.

The prizes are awarded by different associations. The Nobel Prize in Physics, Nobel Prize in Chemistry and Nobel Memorial Prize in Economic Sciences are awarded by the Royal Swedish Academy of Sciences, the Nobel Prize in Physiology or Medicine by the Nobel Assembly at Karolinska Institutet and the Nobel Prize in Literature by the Swedish Academy. Unlike the other prizes, the Nobel Peace Prize is not awarded by a Swedish organization, but by the Norwegian Nobel Committee.

Source: http://en.wikipedia.org/wiki/Nobel_Prize

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