Why did Cradock engage at Coronel?

Why did Cradock engage Von Spee's stronger squadron instead of withdrawing?

Cradock could not be sure his whole formation could escape: Otranto limited his speed, the Germans controlled the long-range fight, he knew of no available reinforcement, and Troubridge's ruined career showed the institutional cost of refusing action.

Withdrawal was sensible only if the whole formation could get away, but Von Spee could choose the range during a tail chase. Cradock did not know that Fisher had redirected Defence, and he believed Canopus was unavailable at the Falklands. At close range, British short-range guns and torpedoes at least offered a slim gamble that did not exist under German long-range fire. He may also have hoped that fighting would let some ships escape with the enemy's position. Cradock's decision was a desperate response to bad options. Nothing in the discussion suggests that he expected his inferior squadron to win.