Color appearance models and tone reproduction algorithms are currently solving different problems. These classes of algorithms are also developed and used in different communities. However, they show remarkable functional similarities. Perhaps there is reason to think that they could in fact be one and the same thing. The advantages would be that we could achieve dynamic range reduction while taking human color vision into account. Vice-versa, we could predict the appearance of color over a large range of intensities. But how to overcome the differences, and how to construct an algorithm that could be both a tone reproduction model as well as a color appearance model?
Erik Reinhard, "Tone Reproduction and Color Appearance Modeling: Two Sides of the Same Coin?" in Proc. IS&T 19th Color and Imaging Conf., 2011, pp 171 - 176, https://doi.org/10.2352/CIC.2011.19.1.art00035