The effects of charge transfer and molecular chain length on the electrical polarizability of doped trans-polyacetylene oligomers have been investigated using a series of quantum chemical methods ranging from Hartree-Fock to current density functional theory. Polarizability tensors of pristine and metal-doped trans-polyacetylene oligomers have been estimated. The nature of variations of polarizability tensor components are quite different for pristine and doped oligomers. For doped samples, distinct minima in the average static polarizabilities per acetylene unit have been observed. The results suggest that the competitive role of charge-transfer interaction and oligomer chain length are responsible for the observed minima. To simulate the ab initio results on polarizability variation, we propose a mathematical model that describes the minima quite satisfactorily.