Color and contrast choices often are a product of personal preferences, but you can of course go deeper with it. Nate Baldwin provides an interactive guide on the perception of color and ties it to how it matters in the design of user interfaces:
This website is for designers to learn about color, contrast, and how it can affect experiences of a user interface. It provides quick access to relevant information at any point in the design process.
The content is thorough, but concise, and provides contextual insight to assist you in making educated decisions about color and contrast.