Should Mario Vargas Llosa capitalize the name of his new prize?
Formal award names (such as "Oscar," "Grammy," and "Nobel Prize in Literature") are capitalized because they are proper nouns—the name of something specific.
General award terms are not capitalized when they are used descriptively.
- Doris Lessing won the Nobel Prize in Literature in 2007.
- Doris Lessing won a literature prize.
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