I'm wondering if there is a way to "normalize" the output of a risk function
In my math model, I decided to model risk based off the way that the risk of the actual action would change, based off a few factors like distance and the time to complete the action.
For example, in my model risk increases dramatically if you are within a certain distance from the opponent, but not by much after you enter that range. And you aren't at much risk while performing this "Action 1" if you are outside of that range. So I used a 1/log function to model it, and the risk function for Action 1 looks like 1/log of distance plus the logarithm of the time it would take to complete Action 1 (because after a certain threshold, the time it takes to compete an action doesn't increase risk much).
The reasons you would perform Action 2 are much less nuanced, so the risk function for Action 2 is just a constant based on those same factors, like 4.
And for Action 3 (doing nothing) risk is just 1 because you aren't doing anything. It's not 0 because if risk and reward were 0, the risk-reward ratio would be undefined.
The issue arose when I realized that Action 1's risk function might return 50 and Action 2's function might return 4, where both are saying "very high risk". So my first instinct is to normalize the outputs of the risk functions so I'm not comparing apples to oranges. I just have no idea how to do that, as my math model isn't using means or standard deviations the way z-scores do.