Ok, after reading this page. I added a managed rule on to the Person field with an action to set the value to the field bound to the textbox with formula "eval(eval(Person, 'concat(., ",")'), "..")"
It only sort of worked as there are still two remaining issues:
1) leading "," in the textbox
2) when I unchecked item in the multiple selection list, the textbox is not updated....
Shouldn't unchecking an item in the Multiple-Selection List also trigger the action to update value of the textbox?