Is “outpander” a received English word? Can “out” be used to any verb as one likes?

I saw the word, outpander in the following sentence of Maureen Dowd’s article titled, “Liz: Cheney desist!” in March 6 New York Times:

Speaking by satellite to the American Israel Public Affairs Committee conference here, Romney outpandered himself.
“I will station multiple aircraft carriers and warships at Iran’s door,” he said as if he were playing Risk. Not afraid to employ “military might” (or alarming alliteration), Romney wrote a blank check to Bibi Netanyahu ---

I can guess what outpander means from the definition of a dictionary at hand –OAELD defines pander (to sb) as "to do what sb wants, or try to please them, especially when this is not acceptable or reasonable."

However, as far as I checked, no dictionary including Oxford, Cambridge, Merriam-Webster, even urban dictionary registers outpander, nor does Google Ngram.

Is outpander a received English word, or usual Dowd’s coinage? Or, anyone can fix ‘out’ to any verb as a prefix as he or she likes just as we do with any verb＋able, like outeat, outknow, outlaugh, outsex?

Is it an accepted or received English word? No. Can out- be used as a prefix to anything? No. Is it used as a prefix to anything? Yes.

There is a tendency to prefix out- to all sorts of words, with a meaning of out-do in x, often hyphenated. They are understandable, as long as you realise how the word is made up - the hyphen helps - but that does not make them real words.