The economic crisis means the amount of money given to Nobel Prize winners is being cut.
The Nobel Foundation is going to reduce the amount of money it gives to its prize winner by 20%.
The foundation said the returns on its capital had not grown at the same rate as its costs and that future winners would receive $US1.1 million, the BBC reports.
The money that prize winners are awarded, was donated by Alfred Nobel in his will. Winners also receive a diploma and a medal.