JS Replace Text

I have a drop down menu that looks like this:

It works fine, but I need to replace the text "Choose an Action" with whatever link the user selects from the box. What is the best way to handle this?

Here is the code for the drop down:

$("#dd_open a").click(function(event) {开发者_StackOverflow中文版
event.preventDefault();
$("#dd_open a").removeClass('selected');
$(this).addClass('selected');
return false;
}); 

$("#dd_btn").click(function(event) {
window.location.href = $("#dd_open a.selected").attr('href');
}); 

$('#ChooseAnActionElement').val( $(this).val() );

The above will replace the contents of an element with the contents of the selected element.

Or as @slaks has done

$('#ChooseAnActionElement').text( $(this).text() );

depending on the element.

You can set the text of the Choose an Action element by calling $('some selector').text(something).

You can get the text of the clicked element by calling $(this).text() in the click handler.