In this paper, we introduce the novel approach of employing the economic mechanism design concept in the software development process, and investigate methods to create and adjust the incentives and disincentives of the process and align them with the motivations of the participants in order to maximize the delivered value of a software project. We consider that software development can be viewed as an economic activity inside an information exchange economy, and therefore, based on game theoretic principles, our aim is to create a people centric process model for software development.