When creating a Shared Library you can set permissions for each user of that collection. 

What are the differences between the levels?

Admin

Admins can control everything about a library. They can add/remove users, change user permissions, add/delete content in the libraries, and delete or archive a library. 

Owner

Owners have all the same permissions as Admins, however, as a regular Academic Subscriber, you can only own 5 shared libraries.

Member

Members can add and delete content within the libraries. 

Read-only

Users set to the read-only permissions will only be able to open, read and annotate the articles shared in the library. These users cannot add or remove any content or lists.