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We propose a semantically grounded theory of session types which relies onintersection and union types. We argue that intersection and union types arenatural candidates for modeling branching points in session types and we showthat the resulting theory overcomes some important defects of relatedbehavioral theories. In particular, intersections and unions provide a nativesolution to the problem of computing joins and meets of session types. Also,the subtyping relation turns out to be a pre-congruence, while this is notalways the case in related behavioral theories.

Session Types = Intersection Types + Union Types