We derive bounds on the ratios of deadweight loss and consumer surplus to producer
surplus under Cournot competition. To do so, we introduce a parameterization of the degree
of curvature of market demand using the parallel concepts of ρ-concavity and ρ-convexity.
The “more concave” is demand, the larger the share of producer surplus in overall surplus,
the smaller is consumer surplus relative to producer surplus, and the lower the ratio of
deadweight loss to producer surplus. Deadweight loss over total potential surplus is at first …