We present an overview of the optical properties and related experimen
tal results obtained from poly(para-phenylene vinylene), PPV, and its
soluble derivatives, and we critically examine the interpretation of t
hese data in the context of both the band model and the exciton model
of the electronic structure of these semiconducting and luminescent po
lymers. Results obtained from highly oriented and structurally ordered
PPVs demonstrate that the observed disparities between the physical p
roperties of PPV and the polydiacetylenes (PDAs) are not due to disord
er; these differences are intrinsic and arise from the fundamental dif
ference in the nature of the low energy photoexcited states: excitons
in the PDAs and free carriers in the PPVs.