Abstract
We report on the properties of the physically consistent cluster used in a theory of homogeneous vapor‐phase nucleation and defined by Ellerby, Weakliem, and Reiss (paper I of this series) and by Ellerby and Reiss (paper II of this series). Specifically, the free energy of formation of argon clusters and their radial density distributions are obtained from Monte Carlo simulations. Additionally a modified liquid drop theory is presented, and the results from this macroscopic theory are compared to the simulation results. Finally, we outline the development of a rate theory which utilizes the modified liquid drop theory.