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When a person is scared, a brain area called the amygdala becomes more active, laying down an extra set of memories that go along with those normally taken care of by other parts of the brain.
Eagleman added this illusion "is related to the phenomenon that time seems to speed up as you grow older. When you're a child, you lay down rich memories for all your experiences; when you're older, you've seen it all before and lay down fewer memories. Therefore, when a child looks back at the end of a summer, it seems to have lasted forever; adults think it zoomed by."
Originally posted by Xcalibur254
reply to post by Aeons
Except nothing happens in real-time. Before you actually perceive something photons have to hit your retina, it has to be converted into electrical energy, then that electrical energy must be conducted from the eyes, to the brainstem, up into the cortex and into the visual cortex in the occipital lobe. At this point the information being received must be divided based on spatial attention and the shape of the stimuli, at which point it conducts to the visual association cortex. So, we can only perceive our environment as fast as electricity can be conducted through our brain.