Two-photon excitation spectra of highly monodisperse colloidal CdSe na
nocrystals with sizes ranging from 22 to 43 Angstrom are compared to o
ne-photon excitation data and to a spherically confined effective-mass
model. The main experimental features are well described by this mode
l. However, the first one-photon and two-photon transitions appear ind
istinguishable, though the model predicts a 20-meV splitting. This dis
crepancy may reflect the sensitivity of the band-edge structure to dev
iations from the assumed spherical symmetry.