For linear time-invariant systems with full order feedback controllers, this paper completely solves the problem of selecting sensor and actuator precisions required to yield specified upper bounds on control covariances, output covariances, and precision constraints. Moreover, the paper proves that this problem is convex. The contribution here is that selection of sensors and actuators can now be a part of the control design problem, in lieu of the classical control problem, where sensor and actuator resources have already been specified before the control problem is defined. Furthermore, an ad hoc algorithm is given to select which sensors and actuators should be selected for the final control design that constrains control covariance, output covariance, and a financial cost constraint (where we assume that precision is linearly related to financial cost). We label this the Economic Design Problem. 2009 Springer Science+Business Media, LLC.
