Which method of checking if a variable has been initialized is better/correct? (Assuming the variable could hold anything (string, int, object, function, etc.))
There is another short hand way to check this, when you perform simple assignments and related checks. Simply use Conditional (Ternary) Operator.
var values = typeof variable !== 'undefined' ? variable : '';
Also this will be helpful, when you try to declare the Global variable with instance assignment of the reference variable.
If you wanted to check variable shouldn't be undefined or null. Then perform below check.
When the variable is declared, and if you want to check the value, this is even Simple: and it would perform undefined and null checks together.
var values = variable ? variable : '';