Baba Shiv's research expertise is in the area of neuroeconomics, with specific emphasis on the role of neural structures related to emotion and motivation in shaping decisions and experiences. His recent work examines the interplay of the brain’s "liking" and "wanting" systems and its implications for marketing, innovation, leadership and decision making. The nature of the issues that he examines are: Does being denied something make people pursue it more hotly but also simultaneously like it less? Does a wine's price tag price affect the pleasure one experiences? In the past few years, he has also focused his attention onto the neuroeconomics behind innovation and entrepreneurship leadership in companies small and large, from silicon valley tech startups to Fortune 500 companies

Baba Shiv teaches courses at the GSB that build on his research interests. Examples of some of the courses that he teaches include, The Frinky Science of the Mind, and Entrepreneurial Ventures in Luxury Markets. He frequently hosts executives from around the world in executive education programs at Stanford on strategic marketing management, design thinking and customer-focused innovation.

In his academic career spanning over than 20 years, Professor Shiv’s research has won numerous awards including the William O’Dell award for an article that made the most significant, long-term contribution to marketing theory and practice. Two of his research publications received the Citation of Excellence from Emerald Management Reviews (Top 50 Management Articles in 2005 and 2009). In 2001, Professor Shiv was identified by the Marketing Science Institute as one of the future leaders of the next generation of marketing academics. His work has been featured in a variety of media outlets including The Tonight Show with Jay Leno, CNN, Fox Business, Financial Times, The New York Times, Wall Street Journal, NPR, and Radio Lab.

He served as the editor of the Journal of Consumer Research. He is also on the editorial boards of the Journal of Consumer Psychology, Journal of Retailing, Journal of Marketing and the Journal of Marketing Research.