The present work proposes three interaction potentials between two gaseous neon atoms and applies them to the study of models representing the anisotropy and trace of the induced pair polarizability tensor. The proposed empirical interatomic potentials for the gaseous Ne-Ne interaction are developed by fitting the Improved Lennard-Jones (ILJ), Modified Tang-Toennies (MTT) and Barker et al. (BFW) potentials simulta- neously to the spectroscopic and transport properties over a wide temperature range. The validity of the proposed interatomic potentials is verified by comparing the calculated and experimental second pressure virial coefficient over a wide temperature range. In addition to this, the results show satisfactory accordance between the experimental and calculated vibrational energy levels using the deduced pair potential parameters compared to those reported for neon gas. These comparisons exhibit acceptable accuracy when the present work potential parameters are inserted to reproduce the transport and thermo-physical properties, besides the spectral moments and the spectral line-shape intensities for neon gas. The isotropic and depolarized collision- induced light scattering (CILS) spectra are produced and analyzed as functions of the potential considered. They exhibit sensitivity to both the attractive part of the potential and the short-range values of the polarizability anisotropy or mean at intermediate and high frequencies. Mean and anisotropy are deduced directly from spectral line shapes using a new inversion method.