Olsen's research emphasizes the Paleolithic archaeology of arid lands and high elevations in Central and Inner Asia, especially that area formerly referred to as "Haute-Asie" that encompasses Mongolia and Tibet.
His interests include Quaternary paleoecology and the impact of environmental degradation on prehistoric societies; cultural ecology and environmental archaeology with emphasis on zooarchaeology, especially animal husbandry among pastoral and nomadic societies; spatial analysis in archaeology, including applications of remote sensing and geographic information systems; and tangible and intangible cultural heritage preservation, indigenous intellectual property, and the empowerment of descendant communities.
In 2023, Olsen received the Order of the Polar Star (Mongolian: Алтан гадас одон), the highest civilian award Mongolia can present to a foreign citizen.
Olsen holds Master of Arts (1977) and Doctor of Philosophy (1980) degrees in Anthropology from the University of California, Berkeley where his principal academic advisors were Glynn Ll.
Over the past thirty-plus years, Olsen has accrued slightly more than US$2.2 million in sponsored support of his and his students' research as well as spearheading successful development and fundraising activities on behalf of the University of Arizona's School of Anthropology.