In "The Most Dangerous Game," what is meant by "He lived a year in a minute"?

The reader is expected to understand that a man who is under great emotional stress is likely to have a different subjective sense of time than what is "normal." Ambrose Bierce demonstrated this phenomenon in his story "An Occurrence at Owl Creek Bridge." Everything that seems to happen to Peyton Farquhar from the time he falls from the bridge until he almost succeeds to grasping his wife in his arms at their plantation actually occurs in a matter of two or three seconds. The story is built on the strong contrast between real time and subjective time under an extremely stressful situation. Both stories, "The Most Dangerous Game" and "An Occurrence at Owl Creek Bridge" raise the question "What is time?" One physicist has said that time is what keeps everything from happening at once.
In John Le Carre's excellent novel Smiley's People, the last in the "Karla trilogy," the author plays with the subjectivity of time. In Chapter 2, Villem is picking up a yellow package of photographs aboard a steamer in Hamburg. He imagines that all the other passengers suspect him of being a terrorist. He keeps glancing at his wristwatch and finding that the seconds hand hardly seems to be moving.

The timing hand on his watch flickered past the six. The next time it reaches six, you move....When he got excited--he knew--he lost all sense of time completely. He was afraid the seconds hand would race through a double circuit before he had realised, turning one minute into two....He looked at his watch. The seconds hand was standing at ten. It's stopped! Fifteen seconds since I last looked--that simply is not possible!

The fact that time is not reliable for Sanger Rainsford is just one indication of the stress and anxiety he is experiencing as a result of being placed in a nightmare situation. He is trying his best to keep control of his nerves. Yet his own mind is working against him, making his predicament even worse. General Zaroff understands the mental anguish and disassociation his prey must be experiencing, which makes the "game" more enjoyable for the sadistic manhunter.