The observed number counts of quasars may be explained either by long-lived
activity within rare massive hosts, or by short-lived activity within smaller,
more common hosts. It has been argued that quasar lifetimes may therefore be
inferred from their clustering length, which determines the typical mass of the
quasar host. Here we point out that the relationship between the mass of the
black-hole and the circular velocity of its host dark-matter halo is more
fundamental to the determination of the clustering length. In particular, the
clustering length observed in the 2dF quasar redshift survey is consistent with
the galactic halo - black-hole relation observed in local galaxies, provided
that quasars shine at ~10-100% of their Eddington luminosity. The slow
evolution of the clustering length with redshift inferred in the 2dF quasar
survey favors a black-hole mass whose redshift-independent scaling is with halo
circular velocity, rather than halo mass. These results are independent from
observations of the number counts of bright quasars which may be used to
determine the quasar lifetime and its dependence on redshift. We show that if
quasar activity results from galaxy mergers, then the number counts of quasars
imply an episodic quasar lifetime that is set by the dynamical time of the host
galaxy rather than by the Salpeter time. Our results imply that as the redshift
increases, the central black-holes comprise a larger fraction of their host
galaxy mass and the quasar lifetime gets shorter.Comment: 10 pages, 5 figures. Submitted to Ap