any of various awards made annually, beginning in 1901, from funds originally established by Alfred B. Nobel for outstanding achievement in physics, chemistry, medicine or physiology, literature, and the promotion of peace; an annual award in economics was established in 1969 from private funds.
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British Dictionary definitions for nobel prize
a prize for outstanding contributions to chemistry, physics, physiology or medicine, literature, economics, and peace that may be awarded annually. It was established in 1901, the prize for economics being added in 1969. The recipients are chosen by an international committee centred in Sweden, except for the peace prize which is awarded in Oslo by a committee of the Norwegian parliament
Collins English Dictionary - Complete & Unabridged 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012