The Nobel Prize is a set of annual international awards bestowed in several categories by Swedish and Norwegian institutions in recognition of academic, cultural, or scientific advances. The will of the Swedish chemist, engineer and industrialist Alfred Nobel established the five Nobel prizes in 1895. The prizes in Chemistry, Literature, Peace, Physics, and Physiology or Medicine were first awarded in 1901. The prizes are widely regarded as the most prestigious awards available in their respective fields.
In 1968, Sveriges Riksbank, Sweden's central bank, established the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. It is awarded according to the same principles as for the Nobel Prizes that have been awarded since 1901.
Especially the Nobel Peace Prize selections have been criticized for various reasons. See Nobel Peace Prize.
Another criticism has been regarding the high Jewish over-representation. "Higher IQs and preferential choice of science as a profession among Jews do not fully explain this J-bias. It is more likely that extensive and well-organized personal networking of a marketing type among Jewish scientists, together with the egalitarian-liberal, nonchalant attitude of the Swedish representatives of the Donor, are responsible for this unfortunate phenomenon."
- The Jewish Bias of the Nobel Prize https://www.researchgate.net/publication/229007550_The_Jewish_Bias_of_the_Nobel_Prize