short-run, increases the average rate of deforestation and reduces the expected time for total conversion in the long run …

of deforestation. Interestingly, we show that uncertainty, even if it induces conversion postponement in the short …-run, increases the average rate of deforestation and reduces expected time for total conversion in the long run. Finally, we … illustrate our findings through some numerical simulations. -- Optimal Stopping ; Deforestation ; Payments for Environmental …