Underbid v. t. (past & past part. underbid; pres. part. underbidding) To bid less than, as when a contract or service is offered to the lowest bidder; to offer to contract, sell, or do for a lower price than.
... vender's supply does not require that he win away another's customers, and although the different sellers continue to be rivals and each would welcome an increase of patronage made at others' cost, no one is forced to underbid others in order to continue to sell his accustomed output. Competition is here quiescent, since actual underbidding and the luring away of rivals' customers do not take place. When entrepreneurs who are not now in the subgroup ... — Essentials of Economic Theory - As Applied to Modern Problems of Industry and Public Policy • John Bates Clark
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