Literary awards are more than just ego boosts these days. As the critic James Wood observed a few years back, "prizes are the new reviews," the means by which many people now decide which books to buy, when they bother to buy books at all. There are some 400,000 titles published per year in the U.S. alone -- one new book every minute and a half -- according to Bowker, a company providing information services to the industry, and there are fewer people with the time and inclination to read them. If you only read, for example, about five novels per year (a near-heroic feat of literacy for the average American), you could limit yourself to just the winners of the NBA, the Pulitzer, the National Book Critics Circle, the Booker Prize and then, oh, a Hugo or Edgar winner -- or even a backlist title by that year's Nobel Prize winner. You'd never have to lower your sights to anything unlaureled by a major award. On the other hand, if you've just self-published a b...