Undersubscription

Part of speech: noun

Definitions

1. A situation characterized by a demand for a particular offering that is lower than expected or required
2. The occurrence when the interest in a financial instrument or investment falls short of the amount sought by the issuer
3. An event marked by a lesser number of participants or subscriptions than anticipated or planned

Etymology: "Undersubscription" is a plain formation: the prefix "under-" attached to "subscription." The base word, "subscription," comes from the Latin "subscribere," meaning to write underneath or sign one's name at the foot of a document, and in English it came to mean putting one's name down to support or pay for something in advance. Subscribing to a magazine, a fund or a series of concerts all descend from that act of signing a list. The prefix "under-" carries its usual sense of "less than enough" or "below the proper level," so an undersubscribed event is one where fewer people signed up or paid than had been hoped for. The word therefore describes a shortfall measured against a target, which is why it is most often used for courses, shares in an offering, or places on a tour that failed to fill.