The Nobel Prize was established in 1901 at the bequest of Alfred Nobel, the Swedish scientist who invented dynamite. Nobel willed that the interest from his estate be used for awards in areas such as major scientific discoveries and contributions to peace. There are six Nobel Prize fields, three in natural sciences: "chemistry", "physics", "physiology or medicine", and another three in "peace", "literature" and "economics." Prizewinners are announced in October each year and the prize award ceremony held in Stockholm on December 10th, the anniversary of Alfred Nobel's death. The prizewinners in each field are determined by different committees; the Royal Swedish Academy of Sciences selects the winners of chemistry, physics and economics, the Nobel Assembly at Karolinska Institutet (a medical university institute) selects the physiology or medicine winners, the Swedish Academy selects the literature winners, and the Norwegian Nobel Committee selects the peace winners; the latter being the only prize to be given at a ceremony in Oslo. Naturally, each selection committee also seeks the advice of noted universities and experts from around the world, which truly means that these prizes are stamped with the authoritative approval of experts across the globe.