The optical third-order nonlinearity of a ZnSe-based microcavity is investi
gated by the pump-and-probe method. In the specially designed non-monolithi
c sample the biexciton binding energy exceeds all damping constants and the
normal-mode splitting between exciton and cavity photon. For counter-circu
lar polarized beams the nonlinear response exhibits strong oscillatory stru
ctures in the spectral vicinity of the polariton-biexciton transition. Comp
arison to model calculations shows that in this case the coherent nonlinear
ity is completely dominated by biexciton-exciton interactions beyond the Ha
rtree-Fock approximation. (C) 2000 Elsevier Science B.V. All rights reserve
d.