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The present paper began with an attempt to formalize the Davis-Moore functional theory of social stratification. It was found that the theory could be represented by a static model consisting of two algebraic equations with appropriate constraints on the functions. Then the tools of path analysis were used to evaluate the empirical adequacy of the Davis-Moore and Parsonian functional theories of social stratification as representations of cultural beliefs about stratification. Because of the likely presence of measurement and sampling errors, it was impossible to reject definitely either of the models. However, the estimated path coefficients were more consistent with the Parsonian theory than the Davis-Moore theory. This led to an inquiry into the conditions under which one model would be a better representation than the other. It was argued that the Davis-Moore scheme would provide a more accurate representation of cultural beliefs under conditions of high organizational interdependence whereas the Parsonian framework would give a better representation under conditions of low interdependence. [ABSTRACT FROM AUTHOR]