Pair contributions to the polarizability of argon are calculated ab in
itio. A large basis set, including diffuse orbitals, is employed. Corr
elation effects are included using second-order Moller-Plesset perturb
ation theory. The results are used to compute moments of the polarized
and depolarized collision-induced light scattering spectra, and secon
d dielectric, refractivity and Kerr virial coefficients. Some discrepa
ncies with experiment are found, but overall the agreement is satisfac
tory.