The dephasing of excitons in self-organized CdSe/ZnSe islands grown by mole
cular-beam epitaxy is investigated using spectrally resolved four-wave mixi
ng. A distribution of dephasing times is observed, indicating the existence
of localized excitons with different relaxation times at comparable transi
tion energies. Polarization-dependent measurements identify the formation o
f biexcitons. The observed large biexciton binding energy of 22 meV increas
es with decreasing exciton energy, which is attributed to an increasing thr
ee-dimensional confinement. (C) 2000 Elsevier Science B.V. All rights reser
ved.