Preprint: Institutional Value of a Nobel Prize

Abstract

The Nobel Prize is awarded each year to individuals who have conferred the greatest benefit to humankind in Physics, Chemistry, Medicine, Economics, Literature, and Peace, and is considered by many to be the most prestigious recognition for one's body of work. Receiving a Nobel prize confers a sense of financial independence and significant prestige, vaulting its recipients to global prominence. Apart from the prize money (approximately US$1,145,000), a Nobel laureate can expect to benefit in a number of ways, including increased success in securing grants, wider adoption and promulgation of one's theories and ideas, increased professional and academic opportunities, and, in some cases, a measure of celebrity. A Nobel laureate's affiliated institution, by extension, also greatly benefits. Because of this, many institutions seek to employ Nobel Prize winners or individuals who have a high likelihood of winning one in the future. Many of the recent discoveries and innovations recognized with a Nobel Prize were made possible only because of advanced computing capabilities. Understanding the ways in which advanced research computing facilities and services are essential in enabling new and important discoveries cannot be overlooked in examining the value of a Nobel Prize. This paper explores an institution's benefits of having a Nobel Prize winner among its ranks.