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Quantum field theory provides a consistent framework to deal with unstableparticles. We present here an approach based on field theory to describe theproduction and decay of unstable $K^0-\bar{K^0}$ and $B^0-\bar{B^0}$ mixedsystems. The formalism is applied to compute the time evolution amplitudes of$K^0$ and $\bar{K^0}$ studied in DAPHNE and CPLEAR experiments. We alsointroduce a new set of parameters that describe CP violation in $ K \to \pi\pi$decays without recourse to isospin decomposition of the decay amplitudes.Comment: Latex, 19 page

FIELD THEORY APPROACH TO $K^0-\overline{K^0}$ AND $B^0-\overline{B^0}$ SYSTEMS