Nobel Prize winner selection process – Should it change?

Wikipedia mentions that Nobel Peace Prize is socially prestigious and sometimes ‘politically’ controversial. What can be done to prevent the repeat of the 2009 type-controversy? Does anything need to change in the selection process? Should we have a say as to who is chosen as the winner or be able to vote for the winner? Or, is the current selection process adequate? I think one remedial option could be the introduction of a new-competing-prize (e.g. “Limbo Prize”, meaning, transitional prize). What do you think?