Density-functional-theory calculations of the total energies, ionization potentials, and optical response properties with the van Leenwen-Baerends potential

van Leeuwen and Baerends proposed a Becke-like nonlocal correction to the local-density-approximation (LDA) exchange-correlation potential so that its asymptotic structure becomes exact i.e., - 1/r [Phys. Rev. A 49, 2421 (1994)]. They showed that it significantly improves the value of the highest occupied orbital eigen-value of atoms and molecules. However, the correction is exchangelike in nature. With this in mind, in this paper we investigate how this correction affects the total energies and highest eigenvalues within the exchange-only approximation. We show that the potential also corrects the LDA errors substantially within this approximation, and leads to total energies and high eigenvalues which compare well with their Hartree-Fock counterparts. Improvement in the asymptotic behavior of the potential should also result in better values of the response properties of these systems. We show that with this correction one obtains better estimates, both within the exchange-only approximation and with correlation included, of the linear and nonlinear polarizabilities of inert gas atoms. This is quite significant, since the LDA is known to overestimate the nonlinear polarizabilities-of these atoms by roughly 100%. On the other hand, for alkaline-earth atoms the values of polarizabilities obtained with this correction are not satisfactory. Nonetheless, hyperpolarizabilities show a marked improvement over the LDA results. [S1050-2947(99)06711-6].