Dipolaritons are a three-way superposition of photon, a direct exciton, and an indirect exciton that are formed in coupled quantum well microcavities. As is the case with exciton-polaritons, dipolaritons have a self-interaction due to direct and exchange effects of the underlying electrons and holes. Here we present a theoretical description of dipolaritons and derive simple formulas for their basic parameters. In particular, we derive the effective dipolariton-dipolariton interaction taking into account of exchange effects between the excitons. We obtain a simple relation to describe the effective interaction at low densities. We find that dipolaritons should condense under suitable conditions, described by a dissipative Gross-Pitaevskii equation. While the parameters for condensation are promising, we find that the level of tunability of the interactions is limited.
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