Nobel Peace Prize

I think most people have heard of the Nobel Peace Prize. But I don't really know too much about it.
The reason I thought perhaps I should explore just what it is and how it's awarded was because of this very brief bio on Irena Sendler (pictured below) who saved 2500 kids and infants during WWII and was nominated for the Nobel Peace Prize...but did not win. Check out the link for why.

 

So this is the official Nobel Prize Site

Just a quick run down:

• 93 Nobel Peace Prizes have been awarded since 1901.
• "If none of the works under consideration is found to be of the importance indicated in the first paragraph, the prize money shall be reserved until the following year."
• Average age: 62, youngest: 32, oldest: 87
• The Norwegian Nobel Committee is responsible for selecting the Nobel Peace Prize Laureates. The Committee is composed of five members appointed by the Storting (Norwegian Parliament) [this I don't get...why do the Norwegians get to decide this? I'm sure they're lovely people but I would have thought it would be some committee composed of people from all over the world]
• And aside from the Nobel Peace Prize, there are also: Nobel Prize in Physics, Nobel Prize in Chemistry, Nobel Prize in Physiology or Medicine, Nobel Prize in Literature, Prize in Economic Sciences
• Each prize consists of a medal, personal diploma, and a cash award