Step 1: Understand the concepts.
Interference, diffraction, and polarization are phenomena that support the wave nature of light. They can all be explained by the wave theory of light.
Step 2: The photoelectric effect.
The photoelectric effect, on the other hand, is explained by the particle theory of light. It involves the emission of electrons from a metal surface when it is illuminated by light, which cannot be explained by the wave theory alone.
Final Answer:
\[
\boxed{\text{Photoelectric effect}}
\]