The Nobel Prize is a set of annual international awards bestowed in a number of categories by Swedish and Norwegian institutions in recognition of academic, cultural, and/or scientific advances.The will of the Swedish inventor Alfred Nobel established the prizes in 1895. The prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901.[1] Medals made before 1980 were struck in 23 carat gold, and later from 18 carat green gold plated with a 24 carat gold coating. Between 1901 and till now.The prize ceremonies take place annually in Stockholm, Sweden Each recipient, or laureate, receives a gold medal, a diploma, and a sum of money that has been decided by the Nobel Foundation.The Nobel Prize is widely regarded as the most prestigious award available in the fields of literature, medicine, physics, chemistry, peace, and economics.
The Royal Swedish Academy of Sciences awards the Nobel Prize in Physics, the Nobel Prize in Chemistry, and the Nobel Memorial Prize in Economic Sciences; the Nobel Assembly at Karolinska Institutet awards the Nobel Prize in Physiology or Medicine; the Swedish Academy grants the Nobel Prize in Literature; and the Nobel Peace Prize is awarded not by a Swedish organisation but by the Norwegian Nobel Committee.if a person is awarded a prize and dies before receiving it, the prize may still be presented.Though the average number of laureates per prize increased substantially during the 20th century, a prize may not be shared among more than three people.

Nobel Prizes 2016
	Field	Winners	Contribution
1.	Medicine	Yoshinori Ohsumi	for his discoveries of mechanisms for autophagy.
2.	Chemistry	Jean-Pierre Sauvage	for the design and synthesis of molecular machines.
		Sir J. Fraser Stoddart
		Bernard L. Feringa
3.	Physics	David J. Thouless	for theoretical discoveries of topological phase transitions and topological phases of matter.
		F. Duncan M. Haldane
		J. Michael Kosterlitz
4.	Literature	Bob Dylan (U.S.A.)	For having created new poetic expressions within the great American song tradition.
5.	Peace	Juan Manuel Santos (Columbia)	for his resolute efforts to bring the country's more than 50-year-long civil war to an end
6.	Economic Sciences	Oliver Hart and Bengt Holmstrom	for their contributions to contract theory.