Pharmacodynamics describes how a drug changes a biological system as a function of exposure. It connects target binding to a measured response, whereas pharmacokinetics describes the time course of exposure. A simple illustrative model iswhere is the maximum increment above baseline and is the concentration producing half that increment. Doubling does not generally double the response. [ref]
Molecular Biology of the Cell, 4th edition by Bruce Alberts and others. Chapter 15, Cells Can Adjust Their Sensitivity to a Signal: receptor occupancy and cellular response
Potency and maximal effect differ: two drugs can have different values but the same , or the same but different maximal effects. Moreover, need not equal a binding dissociation constant, because downstream amplification and measurement time also shape the response.
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