I have read that knights are of more use when there are still a lot of pawns on the board and that bishops become more valuable as the pawns are removed. Also, knights can not travel as far as a bishop in one move.
Which is your favorite piece :Knight or Bishop?
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In the situation of game there is no favorite but some people have their favorite one,which they wants to keep until endgame. like the story of Bobby Fischer's favorite White Bishop.