In this monograph, we adopt a microfoundations-type approach to understanding the present state of the field of entrepreneurial cognition research. The notion of microfoundations-which link micro concepts to macro concepts [Barney and Felin, 2013]-is increasingly being utilized to unbundle compound processes, and thereby to generate improved explanations in social science research. From its roots in psychology, we selectively review and trace the progress of the field of entrepreneurial cognition research over time, and we make a case for socially situated cognition as a new and useful framework in which the microfoundations of some of the emerging and more dynamic approaches to the study of entrepreneurs' thinking can be understood and organized. We also outline some productive directions for future entrepreneurial cognition research. We believe that the review of these earlier roots enables the reader to more fully appreciate how the development of social cognition research intertwines with other fields in influencing the current state of entrepreneurial cognition research.