Methods and apparatus for rendering and displaying high dynamic range (HDR) digital image content according to a perceptual model. A model of viewer perceptual range may be determined according to the perceptual model based on inputs including ambient lighting conditions, display panel characteristics (e.g., light leakage and reflected ambient light), and/or display panel settings. The system may determine, according to the model of viewer perceptual range, a brightness level that defines a lower portion and an upper portion of a display space of the display panel, and a maximum rendering value M. Digital image content may be rendered according to the maximum rendering value M to generate HDR content in a dynamic range of (0.0-M). The rendered HDR content may then be mapped into the display space of the display panel according to the brightness level.