We show how the dilute n --> 0 spin vector model introduced originally by W
heeler and co-workers for describing the polymerization phenomenon in solut
ions of liquid sulphur and of living polymers may be conveniently adapted f
or studying phase separation in systems containing long flexible micelles.
We draw an isomorphism between the coupling constant appearing in the excha
nge Hamiltonian and the surfactant energies in the micellar problem. We sol
ve this problem within the mean-field approximation and compare the main re
sults we have obtained with respect to polymer theory and previous theories
of phase separation in micellar solutions. We show that the attractive int
eraction term chi between monomers renormalizes the aggregation energy and
subsequently the corresponding size distribution. Under these conditions, w
e observe that the general aspect of the phase diagram in the (Phi, chi) pl
ane (where Phi is the surfactant concentration) is different from previous
results. The spinodal line shows a reentrant behaviour and, at low concentr
ations, we point out the possibility of specific nucleation phenomena relat
ed to the existence of a metastable transition line between a region compos
ed of spherical micelles and another one corresponding to a dilute solution
of long flexible micelles.