K_S\rightarrow γγ, K_L\rightarrowπ^0γγ$ and Unitarity

Agreement between the experimental value $\Gamma (K_S\rightarrow \gamma\gamma)$ and the number predicted via a one-loop chiral perturbation theory calculation has been cited as a success for the latter. On the other hand the one-loop prediction for the closely related process $K_L\rightarrow \pi^0\gamma\gamma$ has been found to be a factor three below the experimental value. Using the inputs of unitarity and dispersion relations, we demonstrate the importance of higher order loop effects to both of these processes.