Install base probably. The higher it is the less risk there is. Unfortunately it kinda evens out because they higher the install base the more competition you'll have cause every dev will be thinking the same way. This is why you'll see companies randomly put a big name game on a "losing" system, aka Resident Evil 4. More than likely RE4 made more profit on the GC than it would have ever made on the PS2 given a few other scenarios.
So it's an interesting idea but it's all about pre planned strategy. You find out your consumer, find out install bases, discuss costs to make the game, and then release on the best choice. But most publishers take the decisions out of the hands of risk by just releasing it on all systems possible.










