Knockout: computed observable vs function
Solution 1:
If the only purpose of your computed observable is to do a simple binding against it, then using a function would be equivalent. Bindings are implemented inside of a computed observable to track the dependencies, so it will re-trigger your binding when any of the observables change.
Here are a few things to consider about computed observables vs. a function
the value of a computed observable is cached, so it is only updated when it is created and when a dependency is updated. For a regular function, you would need to execute the logic each time. If many things depend on that value (say each item in a collection is binding against a value from the parent), then this logic will be getting run again and again.
in your JavaScript, you are also free to use computed observables like you would other observables. This means that you can create manual subscriptions against them and depend on them from other computeds (calling a function would also create this dependency). You can rely on the normal utility methods in KO like
ko.utils.unwrapObservable
to generically determine if you need to call it as a function or not to retrieve the value.if ultimately you want to ship the value to the server, a computed observable will naturally appear in your JSON output, while a value that is the result of a normal function will just disappear when converted to JSON (you would have to do more work to populate a property from that function first).