http://en.wikipedia.org/wiki/Ohm's_law
You're on the right track but wrong thought process. Lets say you have a constant 5v, and two sets of head phones one with 38 ohms and one with 50 ohms. Using ohms law, I= v/r, you get 131 mA for the 38 ohm pair; and 100 mA for the 50 ohm pair.
What this means is the 38 ohms pair will have a higher amperage to drive the speaker in the headphone at 131 mA, and the 50 ohm pair will have less amperage to drive the speaker letting only 100 mA through.
Therefore the lower ohms pair will produce a louder sound with the same amount of power.
Reference this website:
http://www.practical-home-theater-guide.com/headphones.html
"Impedance: One issue that's especially important when choosing a pair of headphones is impedance. So called low impedance and high impedance pairs should not be intermixed.
Low impedance headsets may vary from 75 ohms up to about 150 ohms. Phones in this impedance range may be directly plugged into the headphone jack routinely found on recording and playback equipment.
Higher impedances sets normally have an impedance of around 600 ohms; these are more useful in studio installations where many units may be wired in parallel for studio monitoring applications.
The 600-ohm models are more rugged than low impedance ones in that the higher resistance coils are less susceptible to burn out than low impedance models. On the other hand, high impedance sets require a higher driving signal to produce the same level of sound output in comparison to low impedance headsets.
This means that low impedance headphones will sound louder when plugged in devices with low output voltages such as portable CD players, etc. In reality,
because of the limited power available from portable players, headsets for portable use should have a maximum impedance of 64 ohms.
Worth keeping in mind here that the lower the impedance, the more efficient headphones are in converting the incoming electrical energy into sound. On the contrary, the higher the impedance, the more electrical energy is required to drive the headsets tiny speakers."