Will declining a research award be problematic for me, or other people?
Don't give in to Imposter Syndrome!

Both your reasons are fundamentally not sound. Somebody nominated you for an award. The awards committee thinks you are deserving. You should not refuse the award simply because you think others may be more deserving. It's the task of the award committee to establish this, and their decision was you.

Rejecting the award will probably not "hurt" your colleagues, but it will probably hurt you. First, you won't have the award, and when you finally realize that your work was maybe in fact good enough to warrant decoration it will be too late to change your mind. Second, you will presumably not get nominated by the same colleagues again for something because they will assume you are not interested in awards. Third, people will look at this as strange behavior, and it is certainly possible that you get flak from your administration or senior professors for refusing what essentially amounts to free marketing for your department. Maybe you are tenured and senior enough that you don't care, but, truth be told, very few people are actually distinguished enough that they really don't need to care at all about what their university thinks about them.


  Minor point: I would also have the option of giving a talk, I'd rather not, but I do have some work to talk about. Wondering if declining the offer to give a talk is a problem too.


I think it's less of a problem to decline a talk than the award itself, but even that is prone to raise some eyebrows, mainly because giving talks is such an inherent part of being an academic that people will wonder why you do not wish to partake in it.