The Nobel Prize in Literature is widely regarded as equivalent in prestige to the Pulitzer Prize for Fiction.

equivalent 是形容词，由前缀 equi-（表示"相等"）和词根 valent（来自拉丁语 valere，表示"价值、力量"）组成，字面意思是"价值相等的"。在句中表示"等同的、相当的"。