why does time seem to slow down in emergencies?

there is an interesting article that describes a well thought out experimental design on LiveScience.com. researchers set out to understand why people who undergo extreme events tend to feel that the event lasted longer than it actually did. part of their experiment had subjects trying to read a watch-like device on their wrist that flickered numbers as they plummeted 150 ft to see if their brain was actually processing signals faster than normal. they found some interesting implications for how memories are formed and why we recall things differently during emergencies.

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