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In this paper, accounting policies explicitly control resourceusage within a contract architecture. Combinedwith a virtual resource economy, this allows efficient exchangeof high-level computer services between untrust-worthyparticipants. These services are specified as contracts,which must be signed by the participants to take effect.Each contract expresses its accounting policy using alimited language, with high expressiveness but predictableexecution times. This is evaluated within a novel resourceeconomy, in which physical resources, trust and money aretreated homogeneously. A second-order trust model continuallyupdates trustworthiness opinions, based on contractperformance; trust delegation certificates support flexible,distributed extension of these trust relationships. The introspectiblecontracts, resource and trust models togetherprovide accountability and resilience, which are particularlyimportant for large-scale distributed computation initiativessuch as the Grid. Thus participants can take calculatedrisks, based on expressed policies and trust, andrationally choose which contracts to perform.