I think it would be a good yearly flavour event idea. Perhaps the different awards could have their probability linked to what the nations have done? So industrialising might be a plus factor for physics and chemistry, culture research/diplomacy a bonus for peace prize, etc. I also like the idea of a peace prize having the potential to be a two edged sword - helpful if you got it for encouraging peace/ending a war etc, bad if you're still at war or suffering rebellion. That might be a little complex, but it would be pretty cool.
That said, would the Nobel prize exist if Russia decided Scandinavia was a good place for a port? Or any other ahistorical possibility.