Comparison (2000–2012) of the annual agricultural value gained on deforested land versus externalities consisting of carbon emission and lost ecosystem services (ES) value.
AGRA, AGRB, AGRC, AGRD: median agricultural rents generated under scenarios A, B, C, and D respectively. CO2m and CO2s: median value of carbon emissions at market and social price levels, respectively. TEV: total ecosystem service value. TEVm and TEVs: median value of TEV including carbon emissions at market and social price levels, respectively. Error bars indicate the 2.5th and 97.5th percentiles of the uncertainty distribution of outcomes. Dotted horizontal lines denote the median of carbon emissions externalities under market and social prices.