Mixed exciton–photon states in planar semiconductor microcavities with quantum wells in the active layer belong to a new class of quasi two dimensional states with unique properties. They arise due to a strong coupling of excitons with eigenmodes of electromagnetic radiation of a microcavity, as a result of which upper and lower exciton–polariton microcavity modes are formed. Large interest is drawn to polariton–polariton scattering, due to which the exciton–polariton system demonstrates strongly nonlinear properties. In addition to exciton polaritons, a new quasiparticle that was called dipolariton and was formed in coupled double quantum wells in a microcavity was observed for the first time in [1]. Unlike an exciton polariton, a dipolariton is a superposition of a microcavity photon, a direct exciton, and an indirect exciton. Here, the direct exciton is a bound state of an electron–hole pair in the same quantum well, and the indirect exciton is formed by the binding of an electron and a hole located in neighboring wells. The indirect exciton is usually weakly coupled to light because of the small overlapping of the wavefunctions of the electron and hole. However, in asymmetric quantum wells, the appropriate electric field can ensure coupling between all three components. The coupling of a microcavity photon to direct and indirect excitons leads to the formation of eigenmodes in this system with three dispersion branches, i.e., the lower, middle, and upper dipolariton branches [2]. Owing to the large dipole moment of the dipolariton, it was suggested as a quasiparticle ideally suited for the generation of terahertz radiation. Dipolaritons were also recently implemented in a wide single quantum well inserted into a dielectric waveguide . However, in spite of considerable progress in the experimental investigation of dipolaritons, any rigorous theoretical analysis of their properties is still absent. Thus, further studies in this field are topical. The authors of [42] show that the optical nonlinearity in the system of exciton polaritons and dipolaritons, which is due to interactive coupling, is larger than the nonlinearity caused by the polariton–polariton interaction.  We consider a situation where a high density of dipolaritons is created in the middle branch of the dispersion curve by an intense laser pulse (pump) [2]. As a result, the parametric scattering of pump dipolaritons appears and dipolaritons in the signal and idler modes are generated. Three scattering channels satisfying the conservation laws of energy and momentum are possible [2]. One of them is the scattering of a pair of pump dipolaritons with the formation of signal and idler dipolaritons in the middle dispersion branch. The second channel is the scattering of a pair of pump dipolaritons with the formation of a signal dipolariton in the lower dispersion branch and an idler dipolariton in the upper dispersion branch. The third channel is the scattering of signal and idler dipolaritons in the middle branch into the signal dipolariton in the lower branch and the idler  dipolariton in the upper branch. The densities of dipolaritons in the indicated modes can be sufficiently high at high excitation intensities. Both direct and inverse transitions are possible in each of the listed channels. This determines the dynamics of the densities of dipolaritons in each mode.  The dynamics of a dipolariton parametric oscillator involves processes of periodic and aperiodic conversion of pump dipolaritons in the middle branch into signal and idler dipolaritons. It has been shown that the period of oscillations of the density of dipolaritons depends significantly on the initial densities of quasiparticles and on the initial phase difference. It has also been shown that in the absence of pumping, the densities of signal and idler dipolaritons can oscillate, which is fundamentally impossible in the system including two polariton branches.