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In this paper, we classify the dynamic, decentralized load balancing algorithms for heterogenous distributed computer systems into three policies: queue adjustment policy (QAP), rate adjustment policy (RAP) and queue and rate adjustment policy (QRAP). We propose two efficient algorithms, referred to as rate based load balancing via virtual routing (RLBVR) and queue based load balancing via virtual routing (QLBVR), which belong to the above RAP and QRAP policies, respectively. We also consider algorithms estimated load information scheduling algorithm (ELISA) that was introduced in the literature, to implement QAP policy. Our focus is to analyze and understand the behaviors of these algorithms in terms of their load balancing ability under varying load conditions (light, moderate, or high) and the minimization of mean response time of jobs. We compare the above classes of algorithms by a number of rigorous simulation experiments to elicit their behavior under some influencing parameters. From these experiments, recommendations are drawn to prescribe the suitability of the algorithms under various situations.