AbstractModels are developed and evaluated that are able to describe the response of blowfly photoreceptor cells to natural time series of intensities. Evaluation of the models is performed using an information theoretical technique that evaluates the performance of the models in terms of a coherence function and a derived coherence rate (in bit/s). Performance is gauged against a maximum expected coherence rate determined from the repeatability of the response to the same stimulus. The best model performs close to this maximum performance, and consists of a cascade of two divisive feedback loops followed by a static nonlinearity. The first feedback loop is fast, effectively compressing fast and large transients in the stimulus. The second ...