Is Object Literal Instantiation faster than setting properties?

Question

Given the following example, is one objectively better/faster/safer than the other? Should object literal instantiation be a best practice where it is practical?

Where is this inappropriate?

class Person
{
    public string name;
    public int age;
}
void MakePeople()
{
    Person myPerson = new Person();
    myPerson.name = "Steve";
    myPerson.age = 21;

    Person literalPerson = new Person { name = "John", age = 22 };
}

Answer 1

No, it isn't faster or slower. It is the same.

The compiler translates object initializers to a constructor call followed by setting those properties.

Person literalPerson = new Person { name = "John", age = 22 };

Turns to:

Person myPerson = new Person();
myPerson.name = "John";
myPerson.age = 22;

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You should use what is more readable and what you have agreed on with your team.