The award ceremony takes place at the Stockholm Concert Hall on December 10th every year - the anniversary of Alfred Nobel's death.
At the ceremony, the Nobel Prizes in physics, chemistry, physiology or medicine, literature and economics are awarded to the laureates. The Nobel Peace Prize is awarded on the same day at the Oslo City Hall in Norway.
Each laureate receives a gold medal, a diploma, and a sum of money that has been decided by the Nobel Foundation.
According to the statutes of the foundation, each laureate is required to give a public lecture on a subject related to the topic of their prize. The lectures are usually held during Nobel Week - the week leading up to the award ceremony and banquet.
The evening banquet is held in the Blue Hall of Stockholm's City Hall in the presence of the royal family. The entertainment and menu are well-kept secrets and the lavish event, lasting four hours, is broadcast live on Swedish Radio and Swedish Television.
Since 1978, after-parties called Nobel Night Cap have been arranged by four different student unions.
The birth places of this year's laureates are America, Germany, Switzerland, Scotland, and Japan.