The definition of the "Nobel Prize effect" most attributed to Richard Hamming describes the effect as a reduction in productivity, making it hard for a scientist to work on small problems after receiving the prize.
At the same time, he acknowledges that this is also a benefit, because people in positions of authority will pay attention to the views of Nobel laureates.
We have seen colleagues who have won a Nobel prize talking nonsense on such and such a political question, on which they really have no knowledge.
Canadian author Alice Munro, 2013 laureate to the Nobel Prize in Literature, suddenly found herself with a Chinese audience with such strong demands for her works that they quickly sold out, and two publishers in China became embroiled in a dispute over publication rights.
[4] Perception among colleagues in the same discipline was thought to have a measurable effect on how often the Nobel laureate's works are cited before and after being awarded the prize.
[6][7] It has been argued that the effect results, in part, from a tendency for Nobel laureates to feel empowered by the award to speak on topics outside their specific area of expertise[8][9] combined with a tendency for Nobel laureates to be the kinds of scientists who think in unconventional ways.