We consider software development as an economic activity, where goods and services can be modeled as a resource constrained task allocation problem. This paper introduces a market based mechanism to overcome task allocation issues in a software development process. It proposes a mechanism with a prescribed set of rules, where valuation is based on the behaviors of stakeholders such as biding for a task. A bid process ensures that a stakeholder, who values the resource most, will have it allocated for a limited number of times. To observe the bidders behaviors, we initiate an approach incorporated with a process simulation model. Our preliminary results support the idea that our model is useful for optimizing the value based task allocations, creating a market value for the project assets, and for achieving proper allocation of project resources specifically on large scale software projects.