Low-energy photon-photon collisions to two loops revisited

In view of ongoing experimental activities to determine the pion polarizabilities, we have started to recalculate the available two-loop expressions in the framework of chiral perturbation theory, because they have never been checked before. We make use of the chiral Lagrangian at order p^6 now available, and of improved techniques to evaluate the two-loop diagrams. Here, we present the result for the neutral pions. The cross section for the reaction gamma+gamma->pi0+pi0 agrees with the earlier calculation within a fraction of a percent. We present analytic results for the dipole and quadrupole polarizabilities, and compare the latter with a recent evaluation from data on gamma+gamma->pi0+pi0.