Efficient resource discovery and allocation is one of the challenges of any large scale Application Layer Network (ALN) such as computational Grids, Content Distribution Networks and P2P applications. In centralized approaches, the user requests can easily be matched to the most convenient resource. These approaches, however, present scalability limits in the highly dynamic and complex ALN environments. This paper, explores an architecture for incorporating fully decentralized economic mechanisms for resource allocation. These mechanisms are implemented by a set of trading agents that operate on behalf of the clients and service providers, interacting over an overlay network and interfacing with the underlying resources of the platform. A prototype of the proposed architecture is presented and the practical implications of its implementation in a grid scenario are discussed.