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Carbon dots (CDs) have attracted rapidly growing interest in recent years due to their unique and tunable optical properties, the low cost of fabrication, and their widespread uses. However, due to the complex structure of CDs, both the molecular ingredients and the intrinsic mechanisms governing photoluminescence of CDs are poorly understood. Among other features, a large Stokes shift of over 100 nm and a photoluminescence spectrally dependent on the excitation wavelength have so far not been adequately explained. In this Letter we investigate CDs and develop a model system to mimic their optical properties. This system comprised three types of polycyclic aromatic hydrocarbon (PAH) molecules with fine-tuned concentrations embedded in a polymer matrix. The model suggests that the Stokes shift in CDs is due to the self-trapping of an exciton in the PAH network. The width and the excitation dependence …