okay...after several days of trying different things i think i am almost there. here is what i came up with:
<script src="//code.jquery.com/jquery-1.12.0.min.js"></script>
<script type="text/javascript">
$(document).ready(function(){
$("#p_lt_ctl05_pageplaceholder_p_lt_ctl01_firm_BizForm_viewBiz_Prefstore_dropDownList").change(function(){
var selectedaddress = $('#p_lt_ctl05_pageplaceholder_p_lt_ctl01_firm_BizForm_viewBiz_Prefstore_dropDownList option:selected').text();
alert(selectedaddress);
$("#p_lt_ctl05_pageplaceholder_p_lt_ctl01_firm_BizForm_viewBiz_storeaddress_txtText").val(selectedaddress);
});
});
</script>
I've just added the alert to show if anything happens...and YES...it shows the TEXT of my selected item of the dropdown. so i must be close right?
The formfield called storeaddress which is going to contain the TEXT simply does not change its default value. I am at a loss right now :(
Oh and i've tried the equivalent of your idea Arun, no difference
$("#dropdown").change(function () {
$("#hiddenfield").val($("#dropdown option:selected").text());
};