An updated analysis of eps'/eps in the standard model with hadronic matrix elements from the chiral quark model

We discuss the theoretical and experimental status of the CP violating ratio eps'/eps. We revise our 1997 standard-model estimate-based on hadronic matrix elements computed in the chiral quark model up to O(p^4) in the chiral expansion-by including an improved statistical analysis of the uncertainties and updated determination of the Cabibbo-Kobayashi-Maskawa elements and other short-distance parameters. Using normal distributions for the experimental input data we find Re eps'/eps = (2.2 \pm 0.8) x 10^{-3}, whereas a flat scanning gives 0.9 x 10^{-3} < Re eps'/eps < 4.8 x 10^{-3}. Both results are in agreement with the current experimental data. The key element in our estimate is, as before, the fit of the Delta I=1/2 rule, which allows us to absorb most of the theoretical uncertainties in the determination of the model-dependent parameters in the hadronic matrix elements. Our semi-phenomenological approach leads to numerical stability against variations of the renormalization scale and scheme dependence of the short- and long-distance components. The same dynamical mechanism at work in the selection rule also explains the larger value obtained for \ratio with respect to other estimates. A coherent picture of K -> pi pi decays is thus provided.