Two-photon exchange in proton elastic scattering

Recent interest in the proton electromagnetic form factors is partly motivated by the discrepancy found in the determination of the electric-to-magnetic form factor ratio using different techniques. Results from scattering experiments using the Rosenbluth technique indicate that the form factor ratio is constant as a function of $Q^2$ while experiments employing polarization show a clear, roughly linear, decline of the ratio. A possible explanation is the typically unaccounted for contribution of hard two-photon exchange to the scattering process. Theoretical calculations show large variations, many indicating an effect of the right sign and magnitude. Direct verification was sought by experiments at VEPP-3, Jefferson Lab and by the OLYMPUS collaboration at DESY. In the talk, I will discuss the OLYMPUS experiment and the current state of experimental and theoretical results.