The origin of sonoluminescence, the conversion of acoustic energy into
ultraviolet/visible radiation in liquids, has remained elusive. We pr
opose that the emission arises from electrons confined to voids in the
hot, dense fluid formed during the final stages of bubble collapse. S
uch electrons are produced by high-temperature ionization of the bubbl
e constituents. A hard-sphere-based model was developed for the fluid
structure, thermodynamics, and confined electron emission. The model i
s consistent with the observed spectral distributions, power output, a
nd time scale associated with emission from single cavitating rare gas
bubbles. Effective temperatures during emission in the 200-700 nm spe
ctral window are predicted to range from 20 000 to 60 000 K.