Cloud computing, with its promise of (almost) unlimited computation, storage and bandwidth, is increasingly becoming the infrastructure of choice for many organizations. As applications gain in popularity and mature, the quality attributes demanded of them change significantly. Applications that manage themselves and exhibit different quality attributes, based on demand, are the ideal that we would like to have. Creating self-managing applications for the cloud present significant problems, since the cloud infrastructure is not under the application architect’s control. We propose an initial design of novel market-based mechanism to allow web-applications living on the cloud to self-manage with regard to their quality attributes. We use a scenario to exemplify and evaluate the approach. Categories and Subject Descriptors D.2.10 [Methodology]: Emergence Keywords Self-Organization, Market-Based Control, Cloud Computing