The Nobel Prizes are awards administered by the Nobel Foundation and granted in accordance with the principle of "for the greatest benefit to humankind". The prizes were first awarded in 1901, marking the fifth anniversary of Alfred Nobel's death. The original Nobel Prizes covered five fields: physics, chemistry, physiology or medicine, literature, and peace, specified in Nobel's will. A sixth prize, the Prize in Economic Sciences, was established in 1968 by Sveriges Riksbank in memory of Alfred Nobel. The Nobel Prizes are widely regarded as the most prestigious awards available in their respective fields.
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