We compare the properties of those published intermolecular perturbation th
eories whose behavior to infinite order is understood. From both fundamenta
l and practical viewpoints we conclude that none is completely satisfactory
. Since our current, detailed understanding of these theories is derived fr
om the eigenproblems upon which they are based, we argue that it is critica
l that any new perturbation theory be formulated as an eigenproblem. Since
the eigenproblem upon which both the Amos-Musher (VI) and Polymeropoulos-Ad
ams perturbation theories are based may be derived by the localized wave (L
W) function method, and since both of these perturbation theories can give
the ground-state energy exactly when carried to infinite order, we propose
that the LW method is suitable for formulating eigenproblems upon which new
perturbation theories may be based. We illustrate how the LW method may be
used by deriving a new intermolecular perturbation theory, designed to be
more accurate than the AM theory at large separations. Calculations on LiH
show that this is the case, but that the theory becomes unsatisfactory at s
mall separations. (C) 1999 John Wiley & Sons, Inc.