<> "The repository administrator has not yet configured an RDF license."^^ . <> . . . "Long-run welfare under externalities in consumption, leisure, and production: A case for happy degrowth vs. unhappy growth"^^ . "In this paper we contribute to the debate on the relationship between growth and well-being by examining an endogenous growth model where we allow for externalities in consumption, leisure, and production. We analyze three regimes: a decentralized economy where each household makes isolated choices without considering their external effects, a planned economy where a myopic planner fails to recognize both leisure and consumption externalities but recognizes production externalities, and a planned economy with a fully informed planner. We first compare the balanced growth paths under the three regimes and then we numerically investigate the transition to the optimal balanced growth path. We provide a number of findings. First, in a decentralized economy growth or labor (or both) are greater than in the regime with a fully informed planner, and hence are sub-optimal from a welfare standpoint. Second, a myopic intervention which overlooks consumption and leisure externalities leads to more growth and labor than in both the decentralized and the fully informed regime. Third, we provide a case for happy degrowth: a transition to the optimal balanced growth path that is associated with downscaling of production, a reduction in private consumption, and an ongoing increase in leisure and well-being."^^ . "2012" . . "84" . . "Elsevier"^^ . . . "Ecological Economics"^^ . . . "09218009" . . . . . . . . . . "Simone"^^ . "D'Alessandro"^^ . "Simone D'Alessandro"^^ . . "Ennio"^^ . "Bilancini"^^ . "Ennio Bilancini"^^ . . . . . "HTML Summary of #3879 \n\nLong-run welfare under externalities in consumption, leisure, and production: A case for happy degrowth vs. unhappy growth\n\n" . "text/html" . . . "HB Economic Theory"@en . . . "HC Economic History and Conditions"@en . .