Microsoft should have implemented something snappy for INotifyPropertyChanged, like in the automatic properties, just specify {get; set; notify;}
I         
        
I realize this question already has a gazillion answers, but none of them felt quite right for me. My issue is I don't want any performance hits and am willing to put up with a little verbosity for that reason alone. I also don't care too much for auto properties either, which led me to the following solution:
public abstract class AbstractObject : INotifyPropertyChanged
{
    public event PropertyChangedEventHandler PropertyChanged;
    public void OnPropertyChanged(string propertyName)
    {
        PropertyChanged?.Invoke(this, new PropertyChangedEventArgs(propertyName));
    }
    protected virtual bool SetValue<TKind>(ref TKind Source, TKind NewValue, params string[] Notify)
    {
        //Set value if the new value is different from the old
        if (!Source.Equals(NewValue))
        {
            Source = NewValue;
            //Notify all applicable properties
            foreach (var i in Notify)
                OnPropertyChanged(i);
            return true;
        }
        return false;
    }
    public AbstractObject()
    {
    }
}
In other words, the above solution is convenient if you don't mind doing this:
public class SomeObject : AbstractObject
{
    public string AnotherProperty
    {
        get
        {
            return someProperty ? "Car" : "Plane";
        }
    }
    bool someProperty = false;
    public bool SomeProperty
    {
        get
        {
            return someProperty;
        }
        set
        {
            SetValue(ref someProperty, value, "SomeProperty", "AnotherProperty");
        }
    }
    public SomeObject() : base()
    {
    }
}
Pros
Cons
Alas, it is still better than doing this,
set
{
    if (!someProperty.Equals(value))
    {
        someProperty = value;
        OnPropertyChanged("SomeProperty");
        OnPropertyChanged("AnotherProperty");
    }
}
For every single property, which becomes a nightmare with the additional verbosity ;-(
Note, I do not claim this solution is better performance-wise compared to the others, just that it is a viable solution for those who don't like the other solutions presented.
I created an Extension Method in my base Library for reuse:
public static class INotifyPropertyChangedExtensions
{
    public static bool SetPropertyAndNotify<T>(this INotifyPropertyChanged sender,
               PropertyChangedEventHandler handler, ref T field, T value, 
               [CallerMemberName] string propertyName = "",
               EqualityComparer<T> equalityComparer = null)
    {
        bool rtn = false;
        var eqComp = equalityComparer ?? EqualityComparer<T>.Default;
        if (!eqComp.Equals(field,value))
        {
            field = value;
            rtn = true;
            if (handler != null)
            {
                var args = new PropertyChangedEventArgs(propertyName);
                handler(sender, args);
            }
        }
        return rtn;
    }
}
This works with .Net 4.5 because of CallerMemberNameAttribute.
If you want to use it with an earlier .Net version you have to change the method declaration from: ...,[CallerMemberName] string propertyName = "", ... to ...,string propertyName, ...
Usage:
public class Dog : INotifyPropertyChanged
{
    public event PropertyChangedEventHandler PropertyChanged;
    string _name;
    public string Name
    {
        get { return _name; }
        set
        {
            this.SetPropertyAndNotify(PropertyChanged, ref _name, value);
        }
    }
}
                                                                        Without using something like postsharp, the minimal version I use uses something like:
public class Data : INotifyPropertyChanged
{
    // boiler-plate
    public event PropertyChangedEventHandler PropertyChanged;
    protected virtual void OnPropertyChanged(string propertyName)
    {
        PropertyChangedEventHandler handler = PropertyChanged;
        if (handler != null) handler(this, new PropertyChangedEventArgs(propertyName));
    }
    protected bool SetField<T>(ref T field, T value, string propertyName)
    {
        if (EqualityComparer<T>.Default.Equals(field, value)) return false;
        field = value;
        OnPropertyChanged(propertyName);
        return true;
    }
    // props
    private string name;
    public string Name
    {
        get { return name; }
        set { SetField(ref name, value, "Name"); }
    }
}
Each property is then just something like:
private string name;
public string Name
{
    get { return name; }
    set { SetField(ref name, value, "Name"); }
}
which isn't huge; it can also be used as a base-class if you want. The bool return from SetField tells you if it was a no-op, in case you want to apply other logic.
or even easier with C# 5:
protected bool SetField<T>(ref T field, T value,
    [CallerMemberName] string propertyName = null)
{...}
which can be called like this:
set { SetField(ref name, value); }
with which the compiler will add the "Name" automatically.
C# 6.0 makes the implementation easier:
protected void OnPropertyChanged([CallerMemberName] string propertyName = null)
{
    PropertyChanged?.Invoke(this, new PropertyChangedEventArgs(propertyName));
}
...and now with C#7:
protected void OnPropertyChanged(string propertyName)
   => PropertyChanged?.Invoke(this, new PropertyChangedEventArgs(propertyName));
protected bool SetField<T>(ref T field, T value,[CallerMemberName] string propertyName =  null)
{
    if (EqualityComparer<T>.Default.Equals(field, value)) return false;
    field = value;
    OnPropertyChanged(propertyName);
    return true;
}
private string name;
public string Name
{
    get => name;
    set => SetField(ref name, value);
}
And, with C# 8 and Nullable reference types, it would look like this:
public event PropertyChangedEventHandler? PropertyChanged;
protected void OnPropertyChanged(string? propertyName) => PropertyChanged?.Invoke(this, new PropertyChangedEventArgs(propertyName));
protected bool SetField<T>(ref T field, T value, [CallerMemberName] string? propertyName = null)
{
    if (EqualityComparer<T>.Default.Equals(field, value)) return false;
    field = value;
    OnPropertyChanged(propertyName);
    return true;
}
private string name;
public string Name
{
    get => name;
    set => SetField(ref name, value);
}
                                                                        Yes, better way certainly exists. Here it is:
Step by step tutorial shrank by me, based on this useful article.
Install-Package Castle.Core
Install-Package MvvmLightLibs
NotifierInterceptor
public class NotifierInterceptor : IInterceptor
    {
        private PropertyChangedEventHandler handler;
        public static Dictionary<String, PropertyChangedEventArgs> _cache =
          new Dictionary<string, PropertyChangedEventArgs>();
        public void Intercept(IInvocation invocation)
        {
            switch (invocation.Method.Name)
            {
                case "add_PropertyChanged":
                    handler = (PropertyChangedEventHandler)
                              Delegate.Combine(handler, (Delegate)invocation.Arguments[0]);
                    invocation.ReturnValue = handler;
                    break;
                case "remove_PropertyChanged":
                    handler = (PropertyChangedEventHandler)
                              Delegate.Remove(handler, (Delegate)invocation.Arguments[0]);
                    invocation.ReturnValue = handler;
                    break;
                default:
                    if (invocation.Method.Name.StartsWith("set_"))
                    {
                        invocation.Proceed();
                        if (handler != null)
                        {
                            var arg = retrievePropertyChangedArg(invocation.Method.Name);
                            handler(invocation.Proxy, arg);
                        }
                    }
                    else invocation.Proceed();
                    break;
            }
        }
        private static PropertyChangedEventArgs retrievePropertyChangedArg(String methodName)
        {
            PropertyChangedEventArgs arg = null;
            _cache.TryGetValue(methodName, out arg);
            if (arg == null)
            {
                arg = new PropertyChangedEventArgs(methodName.Substring(4));
                _cache.Add(methodName, arg);
            }
            return arg;
        }
    }
ProxyCreator
public class ProxyCreator
{
    public static T MakeINotifyPropertyChanged<T>() where T : class, new()
    {
        var proxyGen = new ProxyGenerator();
        var proxy = proxyGen.CreateClassProxy(
          typeof(T),
          new[] { typeof(INotifyPropertyChanged) },
          ProxyGenerationOptions.Default,
          new NotifierInterceptor()
          );
        return proxy as T;
    }
}
-
 public class MainViewModel
    {
        public virtual string MainTextBox { get; set; }
        public RelayCommand TestActionCommand
        {
            get { return new RelayCommand(TestAction); }
        }
        public void TestAction()
        {
            Trace.WriteLine(MainTextBox);
        }
    }
Put bindings into xaml:
<TextBox Text="{Binding MainTextBox}" ></TextBox>
<Button Command="{Binding TestActionCommand}" >Test</Button>
Put line of code in code-behind file MainWindow.xaml.cs like this:
DataContext = ProxyCreator.MakeINotifyPropertyChanged<MainViewModel>();

Attention!!! All bounded properties should be decorated with keyword virtual because they used by castle proxy for overriding.
Look here : http://dotnet-forum.de/blogs/thearchitect/archive/2012/11/01/die-optimale-implementierung-des-inotifypropertychanged-interfaces.aspx
It's written in German, but you can download the ViewModelBase.cs. All the comments in the cs-File are written in English.
With this ViewModelBase-Class it is possible to implement bindable properties similar to the well known Dependency Properties :
public string SomeProperty
{
    get { return GetValue( () => SomeProperty ); }
    set { SetValue( () => SomeProperty, value ); }
}
                                                                        I have written an article that helps with this (https://msdn.microsoft.com/magazine/mt736453). You can use the SolSoft.DataBinding NuGet package. Then you can write code like this:
public class TestViewModel : IRaisePropertyChanged
{
  public TestViewModel()
  {
    this.m_nameProperty = new NotifyProperty<string>(this, nameof(Name), null);
  }
  private readonly NotifyProperty<string> m_nameProperty;
  public string Name
  {
    get
    {
      return m_nameProperty.Value;
    }
    set
    {
      m_nameProperty.SetValue(value);
    }
  }
  // Plus implement IRaisePropertyChanged (or extend BaseViewModel)
}
Benefits: