I'm thinking something like: A message is a tuple of real numbers. Each numbers gets an independent noise term of variance σ added to it. Figure out encoding/decoding that minimizes the expected squared distance between intended message and decoded message.
@ayegill there is some stuff about this in Shannon's paper (A Mathematical Theory of Communication) - see part IV.
For example you can duplicate the message and take the average - this halves the expected squared distance. But you can probably do better with a more clever encoding scheme.