This paper introduces a certain graphical coalitional game where the internal topology of the coalition depends on a prescribed communication graph structure among the agents. The game Value Function is required to satisfy four Axioms of Value. These axioms make it possible to provide a refined study of coalition structures on graphs by defining a formal graphical game and by assigning a Positional Advantage, based on the Shapley value, to each agent in a coalition based on its connectivity properties within the graph. Using the Axioms of Value the graphical coalitional game can be shown to satisfy properties such as convexity, fairness, cohesiveness, and full cooperativeness. Three measures of the contributions of agents to a coalition are introduced: marginal contribution, competitive contribution, and altruistic contribution. The mathematical framework given here is used to establish results regarding the dependence of these three types of contributions on the graph topology, and changes in these contributions due to changes in graph topology. Based on these different contributions, three online sequential decision games are defined on top of the graphical coalitional game, and the stable graphs under each of these sequential decision games are studied. It is shown that the stable graphs under the objective of maximizing the marginal contribution are any connected graph. The stable graphs under the objective of maximizing the competitive contribution are the complete graph. The stable graphs under the objective of maximizing the altruistic contribution are any tree. Published by Elsevier Ltd.