Apparently, they do - as shown by the betting line pointed out by MR.
Apparently, Amos Oz is the top contender, currently. Maybe I should read something of his, just in case!
(Although many worthy authors are honored, others are completely ignored. 'There is the view that the Nobel literature prize often goes to someone whose political stance is found to be sympathetic at a given moment,' said Alan Jenkins, deputy editor of the Times Literary Supplement. )
Stupid Stuff: TMSIDK Episode 12
2 hours ago