Abstract: We examine the cosmology of warm dark matter (WDM), both stable and decaying, from the point of view of structure formation. We compare the matter power spectrum associated to WDM masses of 1.5 keV and 0.158 keV, with that expected for the stable cold dark matter ACDM Xi SCDM paradigm, taken as our reference model. We scrutinize the effects associated to the warm nature of dark matter, as well as the fact that it decays. The decaying warm dark matter (DWDM) scenario is well-motivated, emerging in a broad class of particle physics theories where neutrino masses arise from the spontaneous breaking of a continuous global lepton number symmetry. The majoron arises as a Nambu-Goldstone boson, and picks up a mass from gravitational effects, that explicitly violate global symmetries. The majoron necessarily decays to neutrinos, with an amplitude proportional to their tiny mass, which typically gives it cosmologically long lifetimes. Using N-body simulations we show that our DWDM picture leads to a viable alternative to the ACDM scenario, with predictions that can differ substantially on small scales.