The Collaborative International Dictionary of English v.0.48:

Allocation \Al`lo*ca"tion\, n. [LL. allocatio: cf. F.
   allocation.]
   1. The act of putting one thing to another; a placing;
      disposition; arrangement. --Hallam.
      [1913 Webster]

   2. An allotment or apportionment; as, an allocation of shares
      in a company.
      [1913 Webster]

            The allocation of the particular portions of
            Palestine to its successive inhabitants. --A. R.
                                                  Stanley.
      [1913 Webster]

   3. The admission of an item in an account, or an allowance
      made upon an account; -- a term used in the English
      exchequer.
      [1913 Webster]

WordNet (r) 3.0 (2006):

allocation
    n 1: a share set aside for a specific purpose [syn: allotment,
         allocation]
    2: the act of distributing by allotting or apportioning;
       distribution according to a plan; "the apportionment of seats
       in the House of Representatives is based on the relative
       population of each state" [syn: allotment, apportionment,
       apportioning, allocation, parceling, parcelling,
       assignation]
    3: (computer science) the assignment of particular areas of a
       magnetic disk to particular data or instructions [syn:
       allocation, storage allocation]

Moby Thesaurus II by Grady Ward, 1.0:

59 Moby Thesaurus words for "allocation":
   allotment, appointment, apportionment, appropriation, arrangement,
   array, arraying, assignment, attribution, collation, collocation,
   constitution, denomination, deployment, deposit, deposition,
   designation, determination, disposal, disposition, distribution,
   earmarking, emplacement, fixing, form, formation, formulation,
   lading, loading, localization, locating, location, marshaling,
   order, ordering, packing, pinning down, pinpointing, placement,
   placing, positioning, posting, precision, putting, regimentation,
   reposition, selection, setting aside, signification, situation,
   specification, spotting, stationing, stipulation, storage, stowage,
   structuring, syntax, tagging



Bouvier's Law Dictionary, Revised 6th Ed (1856):

ALLOCATION, Eng. law. An allowance upon account in the Exchequer; or rather,
placing or adding to a thing. Ency. Lond.