diff --git a/lib/pyld/jsonld.py b/lib/pyld/jsonld.py
index 023e868..d75c332 100644
--- a/lib/pyld/jsonld.py
+++ b/lib/pyld/jsonld.py
@@ -1050,7 +1050,6 @@ def to_rdf(self, input_, options):
         issuer = IdentifierIssuer('_:b')
         node_map = {'@default': {}}
         self._create_node_map(expanded, node_map, '@default', issuer)
-
         # output RDF dataset
         dataset = {}
         for graph_name, graph in sorted(node_map.items()):
@@ -1149,18 +1148,31 @@ def has_value(subject, property, value):
 
         :return: True if the value exists, False if not.
         """
+        # Localize the method lookup to avoids repeated class-attribute resolution in the loop/logic and increase performance
+        compare = JsonLdProcessor.compare_values
+
         if JsonLdProcessor.has_property(subject, property):
             val = subject[property]
-            is_list = _is_list(val)
-            if _is_array(val) or is_list:
-                if is_list:
-                    val = val['@list']
-                for v in val:
-                    if JsonLdProcessor.compare_values(value, v):
-                        return True
+
+            # 1. Normalize @list objects
+            # Avoid double checking if val is a list.
+            # If val is a list, then we treat is as an array (i.e. if value occurs in the list, has_value returns true)
+            if _is_list(val):
+                val = val['@list']
+
+            # 2. Handle Collection (Array/List)
+            if _is_array(val):
+                # 'any' with a localized function is the fastest way to loop in Python
+                return any(compare(value, v) for v in val)
+
+            # 3. Handle Single Value
             # avoid matching the set of values with an array value parameter
-            elif not _is_array(value):
-                return JsonLdProcessor.compare_values(value, val)
+            # TODO: If the parameter 'value' is an array, there will be no comparison at all if `value` is an array and 
+            # we default to False. Hence, has_value usually returns False unless comparing against another array
+            # (which is rare here). Is this desirable behavior?
+            if not _is_array(value):
+                return compare(value, val)
+
         return False
 
     @staticmethod
@@ -1282,28 +1294,33 @@ def compare_values(v1, v2):
 
         :return: True if v1 and v2 are considered equal, False if not.
         """
-        # 1. equal primitives
-        if not _is_object(v1) and not _is_object(v2) and v1 == v2:
-            if isinstance(v1, bool) or isinstance(v2, bool):
-                return type(v1) is type(v2)
+        # 0. Quick identity check (Performance boost)
+        if v1 is v2:
             return True
 
+        # Helper for strict type checking (prevents 1 == True)
+        def _strict_eq(a, b):
+            return a == b and (type(a) is type(b) if isinstance(a, bool) or isinstance(b, bool) else True)
+
+        # 1. equal primitives
+        if not _is_object(v1) and not _is_object(v2):
+            return _strict_eq(v1, v2)
+
         # 2. equal @values
-        if (_is_value(v1) and _is_value(v2) and
-                v1['@value'] == v2['@value'] and
-                v1.get('@type') == v2.get('@type') and
-                v1.get('@language') == v2.get('@language') and
-                v1.get('@index') == v2.get('@index')):
-
-            if isinstance(v1['@value'], bool) or isinstance(v2['@value'], bool):
-                return type(v1['@value']) is type(v2['@value'])
-            return True
+        if _is_value(v1) and _is_value(v2):
+            # Using tuples is faster than using and
+            t1 = (v1.get('@type'), v1.get('@language'), v1.get('@index'))
+            t2 = (v2.get('@type'), v2.get('@language'), v2.get('@index'))
+
+            return t1 == t2 and _strict_eq(v1['@value'], v2['@value'])
 
         # 3. equal @ids
-        if (_is_object(v1) and '@id' in v1 and
-                _is_object(v2) and '@id' in v2):
-            return v1['@id'] == v2['@id']
+        if _is_object(v1) and _is_object(v2):
+            # If both are objects, try to get the @id
+            id1, id2 = v1.get('@id'), v2.get('@id')
+            return id1 == id2 if id1 is not None else False
 
+        # The two values are not the same.
         return False
 
     @staticmethod