underestimate

underemployment equilibrium
winner's curse

Definition

noun
an estimate which is less than the actual figure
ExampleThe figure of £50,000 in turnover was a considerable underestimate.
verb
to think that something is smaller or not as bad as it really is
ExamplesThey underestimated the effects of the strike on their sales. • He underestimated the amount of time needed to finish the work.

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