The Collaborative International Dictionary of English v.0.48:

Outlaugh \Out*laugh"\, v. t.
   1. To surpass or outdo in laughing. --Dryden.
      [1913 Webster]

   2. To laugh (one) out of a purpose, principle, etc.; to
      discourage or discomfit by laughing; to laugh down. [R.]
      [1913 Webster]

            His apprehensions of being outlaughed will force him
            to continue in a restless obscurity.  --Franklin.
      [1913 Webster]