Demonstration of feedback effects on GSMF: Least squares regression of Equation (3) to the observed galaxy stellar mass function at z = 0 (black dots, see text and Figure 4 for details). The black curve shows the maximum likelihood estimate for a model without feedback (γ_⋆ = δ_⋆ = 0), i.e. a simple scaling of the HMF; the light grey curve is a stellar feedback-only model (γ_⋆ > 0, δ_⋆ = 0), while the pink curve includes stellar and AGN feedback (γ_⋆, δ_⋆ > 0).