Abstract
The physical concepts of the hybrid and exciton models are reexamined and shown to constitute fundamentally different approaches to preequilibrium reactions. The difference in cross section predictions obtained from the models is not attributableas has often been arguedto inappropriate exciton distribution functions in higher order terms or multiple chance emission. It rather rests with the question of whether or not configuration mixing is assumed to take place during equilibration and what is assumed about hole interactions. A simplified but realistic example is given to illustrate these points, and a test against experimental data is proposed to decide which model is the more appropriate to use.