What are the advantages and limitations of dynamic type languages compared?

Dynamic type languages offer advantages such as increased flexibility and faster prototyping, allowing developers to write and modify code without rigid type constraints. They often promote rapid development and easier experimentation due to their less verbose syntax. However, their limitations include a higher likelihood of runtime errors, as type-related issues may only surface during execution rather than at compile time. Additionally, dynamic typing can lead to performance overhead and decreased readability, making it harder to understand complex codebases.