The relation between TSH and free T4 is bidirectional and complex [1–4]. TSH stimulates the secretion of T4 from the thyroid gland. Immediately after being released into the bloodstream the vast majority of T4 is bound to plasma proteins including albumin, thyroxin binding globulin (TBG) and transthyretin (TTR, formerly called thyroxine-binding prealbumin or TBPA). Free and bound hormones are in an equilibrium, which is controlled by fast feedback loops. What is effective, however, is the small free portion of T4. It is converted to T3 via different deiodinases in the tissues, and it has some direct effects at integrin receptors on the cell membrane. T3 and especially 3,5-T2 are the more active thyroid hormones that express mainly genomic effects. This also applies to their central actions, which result in a suppression of TSH (and also TRH [5]) release. Additional control motifs include ultrashort feedback of TSH release [6], dual feedback via T4 and T3 [7], and a TSH-T3-shunt, where TSH directly stimulates T3 formation within the thyroid [reviewed in 2]:
Unfortunately, there is little empirical information available that is suitable for analysis (to refer to your comment from Dec 25). Data from normal subjects representing a closed loop situation are hardly applicable for quantitative analysis. You might be interested in a free data table available from https://www.ncbi.nlm.nih.gov/pmc/articles/PMC4899439/bin/table_1.doc, which includes some original values from subjects with different conditions of thyroid homeostasis, where some of them correspond to an open-loop situation:
Two closely related cybernetic models are described in [6] and [8]. They have some omissions and desiderata, but they at least integrate a good empirical basis with mathematical modelling. A more thorough description of the corresponding equations is available from https://sourceforge.net/projects/simthyr/files/Documentation/Technical%20Reference%20E.pdf and https://doi.org/10.5281/zenodo.1415331, respectively.
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