The Nobel prizes, awarded annually for distinguished work in chemistry, physics, physiology or medicine, literature, and international peace, were made available by a fund bequeathed for that purpose by Swedish philanthropist, Alfred Bernhard Nobel. The prizes, awarded since 1901, are administered by the Nobel Foundation in Stockholm. In 1969, a prize for economics endowed by the Central Bank of Sweden was added. Candidates for the prizes must be nominated in writing by a qualified authority in the field of competition. Candidates are judged by Swedish and Norwegian academies and institutes on the basis of their contribution to mankind. The awards are usually presented in Stockholm on December 10, with the king of Sweden officiating, an appropriate tribute to Alfred Nobel on the anniversary of his death. Each prize includes a gold medal, a diploma, and a cash award of about one million dollars.