What are the main differences between these two headphone models?

The more expensive one appears to be circumaural while the cheaper is supra-aural. The circumaural fit around the ears and tend to block out more outside noise.

I recommend checking out user reviews of both sets of headphones online.
Specifications only tell you so much.

Noise cancellation is the way to go with headphones.

TCH is right, there are important factors such as comfort, durability, and portability that specifications just don’t cover. I usually prefer circumaural for heavy duty listening, but earbuds for on the go listening. It all really depends on what you’re looking for.

So you’re basically saying that the less expensive one doesn’t cover your ears, it just rests on top, right?

Yes, though it appears you labeled which was more expensive wrong in your question. The more expensive pair also has active noise cancelling and the cheaper doesn’t.