Swedish chemist Alfred Nobel died on December 10, 1896. In his will he left instructions for the establishment of a foundation which would award monetary prizes to people who did outstanding work in physics, chemistry, physiology or medicine, literature, and for the promotion of world peace. Today, Barack Obama becomes the third sitting American president to win the Nobel Peace Prize. Elinor Ostrom becomes the first female laureate of the Prize in Economic Sciences. Other Nobel Prize trivia tidbits: the youngest laureate is Lawrence Bragg, who was 25 years old when he received the Nobel Prize in Physics along with his father, in 1915. Leonid Hurwicz was, at 90, the oldest recipient of a Nobel Prize.