On titleist wedges the degree of bounce is on the back of the club under the words titleist. Under titleist it should say if its a spin milled SM54*10 this means it is a 54 degree wedge with 10 degrees of bounce. It is the same for all the rest, and the bounce of a wedge determines how much the club will prevent the leading edge from digging into the ground. So the  higher the bounce the less chance the club will dig into the ground.

It also depends on you swing type.

If you go to the Vokey webpage, they have and awesome tutorial that tells you about picking the wedge the is right for you and it gives you a lot of detail.

In general though, the high bounce will make the ball run more on chipping and the low will make it stick.  That is just for a standard swing on a chip shot.  on a full swing, they are about the same. 

It all depends on what you want to do and how you play.