Selection bias in the M_BH-sigma and M_BH-L correlations and its   consequences
  It is common to estimate black hole abundances by using a measured correlation between black hole mass and another more easily measured observable such as the velocity dispersion or luminosity of the surrounding bulge. The correlation is used to transform the distribution of the observable into an estimate of the distribution of black hole masses. However, different observables provide different estimates: the Mbh-sigma relation predicts fewer massive black holes than does the Mbh-L relation. This is because the sigma-L relation in black hole samples currently available is inconsistent with that in the SDSS sample, from which the distributions of L or sigma are based: the black hole samples have smaller L for a given sigma or have larger sigma for a given L. This is true whether L is estimated in the optical or in the NIR. If this is a selection rather than physical effect, then the Mbh-sigma and Mbh-L relations currently in the literature are also biased from their true values. We provide a framework for describing the effect of this bias. We then combine it with a model of the bias to make an estimate of the true intrinsic relations. While we do not claim to have understood the source of the bias, our simple model is able to reproduce the observed trends. If we have correctly modeled the selection effect, then our analysis suggests that the bias in the <Mbh|sigma> relation is likely to be small, whereas the <Mbh|L> relation is biased towards predicting more massive black holes for a given luminosity. In addition, it is likely that the Mbh-L relation is entirely a consequence of more fundamental relations between Mbh and sigma, and between sigma and L. The intrinsic relation we find suggests that at fixed luminosity, older galaxies tend to host more massive black holes. 
M. Bernardi, R. K. Sheth, E. Tundo, and J. B. Hyde