There doesn't appear to be a way to do this in the field type settings. There is a hook setup for modifying the entries retrieved relationships_display_field however the best that I can tell it is only called on edit. You could modify the ft.relationship.php file yourself and modify the results shown based on user permissions
ft.relationship.php at line 400 (approximately) add:
$can_view = ee()->session->userdata('can_view_other_entries');
$can_edit = ee()->session->userdata('can_edit_other_entries');
if ($can_view == 'n' || $can_edit == 'n') {
ee()->db->where('author_id',ee()->session->userdata('member_id'));
}