Honorary Members – Nobel Prize

The Nobel Prize is an international award administered by the Nobel Foundation in Stockholm, Sweden, and based on the fortune of Alfred Nobel, Swedish inventor and entrepreneur. In 1968, Sveriges Riksbank established The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel, founder of the Nobel Prize. Each prize consists of a medal, a personal diploma, and a cash award.

A person or organization awarded the Nobel Prize is called Nobel Laureate. The word “laureate” refers to being signified by the laurel wreath. In ancient Greece, laurel wreaths were awarded to victors as a sign of honour.