In his last will and testament, Alfred Nobel specifically designated the institutions
responsible for the prizes he wished to be established.
- The Royal Swedish Academy of Sciences for the Nobel Prize in Physics and Chemistry
- Karolinska Institutet (now The Nobel Assembly at Karolinska Institutet) for the
Nobel Prize in Physiology or Medicine
- The Swedish Academy for the Nobel Prize in Literature
- A committee of five persons to be elected by the Norwegian Parliament (Storting) for
the Nobel Peace Prize.
The Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel was instituted in
1968, on the tercentenary of the bank. The Royal Swedish Academy of Sciences was given the
task of selecting the economic sciences laureates. It has been awarded since 1969 according
to the same principles as the Nobel Prizes.