The dial of significance

When the soul lies down in that grass,

the world is too full to talk about.

– Rumi

Is anyone familiar with the cognitive psychology literature (even terminology would be a good start!) on how we ascribe particular levels of significance to things?

That is to say, in everyday consciousness, objects, events, and agents feel significant/meaningful to varying degrees. These differences in significance tend to be stable across time, and seem to follow an intuitive evolutionary logic.

“Significance” or “meaningfulness”, as I see it, is a bounded conversation between internal states and feedback from the environment—the machinery of significance ascription is neither entirely scripted at birth, nor generated entirely by external stimuli.
 
By extension, significance levels don’t come fixed, but under normal conditions, it’s impossible to reprogram them arbitrarily.
 
That’s not the end of it, though. Experiments in philosophy/conceptual framing offer a peek into the wider possibility space. High school nihilism shows you that it’s possible to turn the significance dial all the way down to 0. Ecstatic, pantheistic spirituality—”everythingism”, you might call it—allows you to crank it up to, well, infinity.
Thought experiments will rarely get you there, though. We have a whole class of serotonergic compounds whose most fundamental, universal effect seems to be messing with significance ascription.

Is the answer in the serotonin system, then?

“To fathom hell or soar angelic / take a pinch of psychedelic,” wrote Humphry Osmond. But rarely does the psychonaut brush up against classical, embodied celestial beings. Hell, most generically, is the significance dial at 0; to soar angelic is to take in reality at significance-level infinity.*

*There are also experiences of pleasant meaninglessness and agonizing hyper-significance out there, so take my heaven/hell framing with a grain of salt.

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