The influence of fifth-order coherences on the spectrally resolved four-wave mixing response of predominantly homogeneously broadened quasi-two-dimensional excitons is studied. Fifth-order signatures are discussed as a function of spectral position and excitation polarization. An exciton–biexciton beating for positive delay times is the dominant effect, which is pronounced at the exciton–biexciton transition for collinearly polarized excitation and at the exciton transition for cross-linearly polarized excitation. For negative delay times and collinearly polarized excitation a pronounced exciton–biexciton beating at the exciton resonance is observed that is vanishing for long negative delays owing to the faster dephasing in the two-exciton continuum compared with the bound biexciton state. These results are in qualitative agreement with microscopic model calculations that include the coherent dynamics of one- and two-exciton resonances up to the fifth order in the optical field.
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