HDR Photography By Jakub Kubica

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.
History of HDR photography