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Abstract
It is shown theoretically that Bose condensation of spin-degenerated exciton-polaritons results in spontaneous buildup of the linear polarization in emission spectra of semiconductor microcavities. The linear polarization degree is a good order parameter for the polariton Bose condensation. If spin-degeneracy is lifted, an elliptically polarized light is emitted by the polariton condensate. The main axis of the ellipse rotates in time due to self-induced Larmor precession of the polariton condensate pseudospin. The polarization decay time is governed by the dephasing induced by the polariton-polariton interaction and strongly depends on the statistics of the condensed state.
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