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From waiting for the web-page to load to the estimation of how long have somebody been stuck in a traffic jam, time is a profoundly ubiquitous in our daily life. However, in some instances, a striking difference between objective time and subjective perception of a time can be found. Such discrepancy is studied by a psychology of time. Despite the past decline in interest, in the present, a renaissance of attempts to corroborate this issue can be seen (Hancock & Block, 2012) with interdisciplinary overlap (Block & Zakay, 2001). In spite of the plethora of research avenues that have emerged (Block & Zakay, 2001; Block, Grondin, & Van Rijn, 2014; Grondin, 2010; Mareš, 2010), the main aim of the present review is to discuss one specific line of research - time estimation in the context of cognitive load. Therefore, the ample body of evidence connecting estimation of subjective time to the metaphorical „internal clock“ and its further relation to cognitive processes, especially, executive functions, is discussed. In the beginning, selected task dedicated for time estimation (time reproduction, time production, method of comparison and verbal estimation) and their variants; the time scale (short vs. long intervals) and related differences between time perception and time estimation; as well as paradigm of estimation - retrospective timing (estimating passing of a time from memory) and prospective timing (experiencing the passage of time) are depicted in relation to cognitive factors. Likewise, the way in which time is coded in our brain (dedicated and intrinsic models); specific neural correlates of the processing of time (e. g. prefrontal cortex; basal ganglia, cerebellum); as well as selected influential psychological models are further analyzed in the context of the broader role of cognitive factors. Specifically, variety of models are discussed (from Piéron´s approach; Francois´s corroboration; Hoagland´s & Treisman´s models; and Scalar expectancy theory to Attentional gate model and its recent modification, Executive gate model). Consequently, in the context of recently emerged body of evidence related to the role of cognitive factors in the time estimation (e.g. Bartholomew, Meck, & Cirulli, 2015; Block, Hancock, & Zakay, 2010; Brown, Collier, & Night, 2013; Brown, Johnson, Sohl, & Dumas, 2015; Fortin, Schweickert, Gaudreault, & Viau-Quesnel, 2010; Lovaš & Kačmár, 2016; Mioni, Stablum, Mcclintock, & Grondin, 2014; Ogden, Salominaite, Jones, Fisk, & Montgomery, 2011; Ogden, Wearden, & Montgomery, 2014; Radua, Pozo, Gómez, Guillen- Grima, & Ortuno, 2015; Viau-Quesnel & Fortin, 2014; Zakay & Block, 2004), the role of executive functions (Diamond, 2013) in human prospective timing is analyzed. Specifically, the role three often postulated core executive functions (Shifting, Inhibition, and Updating; Miyake, Friedman, Emerson, Witzki, & Howerter, 2000); as well as their common factor in the more recent reconceptualization of executive functions (Friedman & Miyake, 2017) are further evaluated. Crucially, our analysis points out to the prominent role of a common executive factor (Friedman & Miyake, 2017) in human prospective timing and implications that can be derived. Such pattern of results is further corroborated and a call for a reevaluation of classical internal clock models is stressed. Moreover, one reconceptualization of internal clock on the psychological level of analysis is proposed and the role of conscious thoughts in prospective time estimation, as proposed by Phillips (2012), is discussed.
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