  Based on numerical simulations of gas-rich galaxy mergers, we discuss a model
in which quasar activity is tied to the self-regulated growth of supermassive
black holes in galaxies. Nuclear inflow of gas attending a galaxy collision
triggers a starburst and feeds black hole growth, but for most of the duration
of the starburst, the black hole is heavily obscured by surrounding gas and
dust which limits the visibility of the quasar, especially at optical and UV
wavelengths. Eventually, feedback energy from accretion heats the gas and
expels it in a powerful wind, leaving a 'dead quasar'. Between buried and dead
phases there is a window during which the galaxy would be seen as a luminous
quasar. Because the black hole mass, radiative output, and distribution of
obscuring gas and dust all evolve strongly with time, the duration of this
phase of observable quasar activity depends on both the waveband and imposed
luminosity threshold. We determine the observed and intrinsic lifetimes as a
function of luminosity and frequency, and calculate observable lifetimes ~10
Myr for bright quasars in the optical B-band, in good agreement with empirical
estimates and much smaller than the black hole growth timescales ~100 Myr,
naturally producing a substantial population of 'buried' quasars. However,
observed and intrinsic energy outputs converge in the IR and hard X-ray bands
as attenuation becomes weaker and chances of observation greatly increase. We
obtain the distribution of column densities along sightlines in which the
quasar is seen above a given luminosity, and find that our result agrees
remarkably well with observed estimates of the column density distribution from
the SDSS for appropriate luminosity thresholds. (Abridged)
