This paper provides a comparative experimental study of income distributions and risky prospects. We observe that Lorenz dominance is satisfied for the ratings of distributions, while the opposite holds for lotteries. Distributions whose Lorenz curve cuts others from below exhibit also higher ratings; the opposite holds again for lotteries. The rating of income distributions is a decreasing function of standard deviation, lottery rating is a decreasing function of skewness. Preference reversals are found in about half of all cases. The transfer principle is largely violated. Ethical inequality measures lack support in peoples' perceptions.