HDR Photography By Jakub Kubica

Information stored in high-dynamic-range images typically corresponds to the physical values of luminance or radiance that can be observed in the real world. This is different from traditional digital images, which represent colors that should appear on a monitor or a paper print. Therefore, HDR image formats are often called "scene-referred", in contrast to traditional digital images, which are "device-referred" or "output-referred". Furthermore, traditional images are usually encoded for the human visual system (maximizing the visual information stored in the fixed number of bits), which is usually called "gamma encoding" or "gamma correction". The values stored for HDR images are often gamma compressed (power law) or logarithmically encoded, or floating-point linear values, since fixed-point linear encodings are increasingly inefficient over higher dynamic ranges.
HDR images often use a higher number of bits per color channel than traditional images to represent many more colors over a much wider dynamic range. 16-bit ("half precision") or 32-bit floating point numbers are often used to represent HDR pixels. However, when the appropriate transfer function is used, HDR pixels for some applications can be represented with as few as 10–12 bits for luminance and 8 bits for chrominance without introducing any visible quantization artifacts.