If ${C}_{I}^{\mathrm{ex}}$ and ${C}_{I}$ are the coefficients of, respectively, the exact and single-determinant wave functions of an extended system on the valence-bond (VB) single determinant ${\ensuremath{\Phi}}_{I}$, the scaling effect ${\ensuremath{\lambda}}_{I}$=${C}_{I}^{\mathrm{ex}}$/${C}_{I}$ of the internal correlation has been empirically shown to follow approximately the law ${\ensuremath{\lambda}}_{I}$=exp(${\mathrm{kE}}_{I}$) where ${E}_{I}$=〈${\ensuremath{\Phi}}_{I}$\ensuremath{\Vert}H\ensuremath{\Vert}${\ensuremath{\Phi}}_{I}$〉 [see Lepetit, Oujia, Malrieu, and Maynau, preceding paper, Phys. Rev. A 39, 3274 (1989)]. The theoretical foundation of such a law is derived by using a mixed molecular-orbital valence-bond perturbation expansion. This law suggests a single-parameter approximate wave function, \ensuremath{\psi}= \ensuremath{\Sigma} ${C}_{I}$exp(${\mathrm{kE}}_{I}$)${\ensuremath{\Phi}}_{I}$. The calculation of an upper bound of the energy is obtained by optimizing k. The method has been tested for \ensuremath{\pi} systems of conjugated hydrocarbons treated through Pariser-Parr-Pople or Hubbard Hamiltonians, giving approximately 90% of the correlation energy, and on a few ab initio valence minimal basis-set calculations of small ${\mathrm{Li}}_{\mathrm{n}}$ clusters, with similar accuracy. The method works as well on open-shell problems and on excited states of both neutral and ionic VB character. This work rationalizes and simplifies (by a reduction to a single parameter) a similar proposal due to Stollhoff and Fulde [Z. Phys. B 26, 257 (1977); 29, 231 (1978); J. Chem. Phys. 73, 4548 (1980)].
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