Stuart_Armstrong comments on CEV-inspired models - Less Wrong Discussion
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It's hard. You can do it, in many ways, but most of the properties you'd want to have cannot be had. The max-min method of normalisation I mentioned has the most of the intuitive properties (despite not being very intuitive itself).
If you have the time, I'd be interested to know what these desirable properties are (or would be happy to read a paper on the topic if you have one to suggest).
We're working on those at the moment, so they're still in flux; but we'll put them out there once we've firmed them up.
Cool, I'll keep my eye out.