The role played by time in the quantum theory is still mysterious by many aspects. In particular it is not clear today whether the distribution of decay times of unstable particles could be described by a time operator (TO). As we shall discuss, different approaches to this problem (one could say interpretations) can be found in the literature on the subject. As we shall show, it is possible to conceive crucial experiments aimed at distinguishing the different approaches, by measuring with accuracy the statistical distribution of decay times of entangled particles. Such experiments can be realized in principle with entangled kaon pairs.