Diazotrophs or N 2-fixers are one of the most ecologically significant groups in marine ecosystems (pelagic and benthic). Inorganic phosphorus (PO 4 3−) and iron (Fe) can limit the growth and N 2-fixing capacities of cyanobacteria. However, studies investigating colimitation of these factors are lacking. Here, we added different concentrations of PO 4 3− and Fe in two cyanobacterial species whose relatives can be found in seagrass habitats: the unicellular Halothece sp. (PCC 7418) and the filamentous Fischerella muscicola (PCC 73103), grown under different nitrate (NO 3 −) concentrations and under N 2 as sole N source, respectively. Their growth, pigment content, N 2-fixation rates, oxidative stress responses, and morphological and cellular changes were investigated. Our results show a serial limitation of NO 3 − and PO 4 3− (with NO 3 − as the primary limiting nutrient) for Halothece sp. Simultaneous co-limitation of PO 4 3− and Fe was found for both species tested, and high levels of Fe (especially when added with high PO 4 3− levels) inhibited the growth of Halothece sp. Nutrient limitation (PO 4 3− , Fe, and/or NO 3 −) enhanced oxidative stress responses, morphological changes, and apoptosis. Furthermore, an extensive bio-informatic analysis describing the predicted Pho, Fur, and NtcA regulons (involved in the survival of cells to P, Fe, and N limitation) was made using the complete genome of Halothece sp. as a model, showing the potential of this strain to adapt to different nutrient regimes (P, Fe, or N).

We study ownership dynamics of multiple strategic risk-averse insiders facing a moral hazard problem. We show that, when insiders cannot commit, "ex ante", to an ownership policy, the aggregate insider stake gradually declines toward the competitive market allocation. Both the speed of adjustment and the long-term equilibrium aggregate insider ownership level are greater for companies with a larger number of insiders, "ceteris paribus". Using data from U.S. real estate investment trusts, we then test the model and find that the predictions of the model are verified empirically. Copyright (c) 2009 American Real Estate and Urban Economics Association.