This paper reports research using a psychological theory, R. D. Luce's (1959) individual choice theory, to provide a ratio‐level measurement basis for an important sociological variable, occupational prestige. It is shown that earlier measurement procedures to scale this sociological variable are essentially arbitrary, although heuristically useful. Luce's Axiom of Choice and his Ranking Postulate are then tested on choice sets of occupations where subjects are asked to pair‐compare or rank the occupations on the basis of their prestige. The Axiom receives qualified support, while the Ranking Postulate is not supported. It is concluded that Luce's choice theory can provide a ratio‐level measurement basis for occupational prestige, although a procedure using rankings must be appropriately structured in order to be an adequate instrument of measurement.