Games don't simulate what our eyes see, they simulate what a camera sees. People still haven't figured this out after all these years of 3D games?
The only time I've seen the "what your eyes see" discussion come up is in regards to the Oculus Rift, which actually does simulate actual human vision, so devs avoid things like motion blur and lens flare like the plague.
As Shifty said they can do both.
One example of human eye behavior "simulated" in games it's eye adaptation and I have seen also flash blindness in shooters.