How does the shared stash work?

In Torchlight 2 you have access to your regular stash, as well as a thing called a "shared stash".

Torchlight 2 also has multiplayer, which is something the first one lacked. This shared stash has me curious.

Do items in your shared stash only go toward your own characters? Or can other players in your game see the same items?

The contents of the Shared Stash are only visible to your characters, other people in your multiplayer game will not be able to see the contents of your shared stash.

It functions in the same way as the stash in Diablo III.

Another thing to point out, is that the Shared stash is not shared with Hardcore characters.

They have their own stared stash. So anything you put into your shared stash as a Hardcore character is only seen by your other hardcore characters.