The Fall of the Quasar Population
  We derive quantitative predictions of the optical and X-ray luminosity functions (LF) for QSs in the redshift range $z<3$. Based on BH paradigm, we investigate how the accretion is controlled by the surrounding structures, as these grow hierarchically. We argue that for $z < 3$ efficient black hole fueling is triggered by the encounters of a gas-rich host with its companions in a group. The dispersion of the dynamical parameters in the encounters produces a double power-law LF. Strong luminosity evolution (LE) is produced as these encounters deplete the gas supply in the host; an additional, milder density evolution obtains since the interactions become progressively rarer as the groups grow richer but less dense. From the agreement with the optical and the X-ray data, we conclude that the evolution of the bright quasars is articulated in two ways. Earlier than $z~3$ the gas-rich protogalaxies grow by merging, which also induces parallel growth of central holes accreting at Eddington rates. In the later era of group assemblage the host encounters with companions drive onto already existing holes further but meager accretion; these consume the gas in the hosts, and cause supply-limited emissions which are intermittent, go progressively sub-Eddington and peter out. Then other fueling processes come to the foreground; we discuss the faint emissions, especially noticeable in X-rays, which are expected when hosts in the field cannibalize satellite galaxies with their meager gas contents. 
A. Cavaliere & V. Vittorini