>>> def f():
...   return a if b else c
...
>>> dis.dis(f)
  2           0 LOAD_GLOBAL              0 (b)
              2 POP_JUMP_IF_FALSE        8
              4 LOAD_GLOBAL              1 (a)
              6 RETURN_VALUE
        >>    8 LOAD_GLOBAL              2 (c)
             10 RETURN_VALUE
>>> def g():
...   if b:
...     return a
...   else:
...     return c
...
>>> dis.dis(g)
  2           0 LOAD_GLOBAL              0 (b)
              2 POP_JUMP_IF_FALSE        8

  3           4 LOAD_GLOBAL              1 (a)
              6 RETURN_VALUE

  5     >>    8 LOAD_GLOBAL              2 (c)
             10 RETURN_VALUE
             12 LOAD_CONST               0 (None)
             14 RETURN_VALUE

>>> timeit.timeit("""3 if True else 8""")
0.012174860001323395
>>> timeit.timeit("""3 if False else 8""")
0.019092951000857283
>>> timeit.timeit("""if True:
...     3
... else:
...     8""")
0.009110345999943092
>>> timeit.timeit("""if False:
...     3
... else:
...     8""")
0.00877297099941643