Reddit reviews Peace, They Say: A History of the Nobel Peace Prize, the Most Famous and Controversial Prize in the World
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Please remember that the will of Alfred Nobel states that the peace prize should go to "the person who shall have done the most or the best work for fraternity between nations, for the abolition or reduction of standing armies and for the holding and promotion of peace congresses" in the preceding year. It isn't supposed to be a 'lifetime achievement award'. And just because she was 'up for it' is meaningless. Hundreds, if not thousands are 'nominated' for the award every year because the process for doing so is fairly open.
If you want to read about the history of the prize and its recipients, this is a great book by Jay Nordlinger:
http://www.amazon.com/Peace-They-Say-History-Controversial/dp/1594035989