I'm not home looking at my technical paper that describes it, but if I remember correctly, "Response" time is how fast the screen pixels change from solid white to color(?), while "Refresh" rate is how many times the TV image is displayed per second. It's touted that a 120Hz TV displays the image twice as many times as a 60Hz TV, thus helping display fast motion (sports) better, but I've watched TVs that have have slow pixel response time (like 8ms or less), and they were horrible on fast action. So, maybe it's a combination of the two. My Sony has a 4ms pixel response and it's also 120Hz, and sports is great. No blur or lag at all.
What is the difference between refresh rate and response time and how does it affect motion blur, like for watching sports? I thought it was the same thing, but saw a philips hdtv advertised at 5 ms response time which I thought would correlate with 120 hz refresh rate, but the TV had a 60 hz refresh rate.

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