Baba Shiv's research is in the area of consumer decision making and decision neuroscience with specific emphasis on the neurological underpinnings of emotion and motivation in decision making.

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 on the placebo effects of marketing actions was the runner-up for the Paul Green Award (paper published in the Journal of Marketing Research that shows or demonstrates the most potential to contribute significantly to the practice of marketing research and research in marketing). The work also received a Citation of Excellence from Emerald Management Reviews as the top 50 management articles of 2005. His recent research A Bite to Whet the Reward Appetite" also received a Citation of Excellence from Emerald Management Reviews for 2008. He has received grant funding from the National Science Foundation for his work on the neuroscience of decision making.

Currently the editor of the Journal of Consumer Research he is also on the editorial board of the Journal of Consumer Psychology and the Journal of Marketing Research Professor Shiv has also served as a consultant for several marketing and law firms on issues ranging from branding and pricing to trademark infringement.