A detailed experimental and theoretical study of the linear and nonlinear optical properties of different Fibonacci-spaced multiple-quantum-well structures is presented. Systematic numerical studies are performed for different average spacing and geometrical arrangement of the quantum wells. Measurements of the linear and nonlinear (carrier density dependent) reflectivity are shown to be in good agreement with the computational results. As the pump pulse energy increases, the excitation-induced dephasing broadens the exciton resonances resulting in a disappearance of sharp features and reduction in peak reflectivity.