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With the development of grid computing, economy models are invented and increasingly applied, however, that is under the assumption of both transaction parties are honest and trustworthy. In reality there is serious information asymmetry between the transaction participators. Information asymmetry may cause resource providers opportunistically exploit the information gap for resource consumers on the quality of resources. To solve the problems that the information asymmetry between the transaction participators in the grid environment, a Reputation-Based Resource Allocation model (RBAM) is proposed. According to the transaction behavior of each node, the model introduces the reputation mechanism into reverse auction, calculates the local and global reputation value and modifies the reputation value dynamically based on various factors which impact resource transactions. In order to select the authentic trading partners, the resource consumer takes the prices and reputation of resources into account entirely and achieves the reasonable allocation of resources. Finally, the effectiveness and feasibility of this model is illustrated by the experiments.