Question

I understand that they are both essentially the same thing. But in terms of creating an empty list or dict, are there any differences?

Answer 1

In terms of speed, it’s no competition for empty lists/dicts:

>>> from timeit import timeit
>>> timeit("[]")
0.040084982867934334
>>> timeit("list()")
0.17704233359267718
>>> timeit("{}")
0.033620194745424214
>>> timeit("dict()")
0.1821558326547077

and for non-empty:

>>> timeit("[1,2,3]")
0.24316302770330367
>>> timeit("list((1,2,3))")
0.44744206316727286
>>> timeit("list(foo)", setup="foo=(1,2,3)")
0.446036018543964
>>> timeit("{'a':1, 'b':2, 'c':3}")
0.20868602015059423
>>> timeit("dict(a=1, b=2, c=3)")
0.47635635255323905
>>> timeit("dict(bar)", setup="bar=[('a', 1), ('b', 2), ('c', 3)]")
0.9028228448029267

Also, using the bracket notation lets you use list and dictionary comprehensions, which may be reason enough.