Just for variety.
As for performance, it's obviously slower, but not that much.
With JIT it's somehow faster sometimes.
print( (1) '<<' (0) ) -- 1
print( (1) '<<' (1) ) -- 2
print( (1) '<<' (2) ) -- 4
local flags = (2) '|' (4, 8, 256, 512)
if ( flags '&' (512) ~= 0 ) then
print( 'flag 512 is set' )
end