Very doubtful, IMHO. That's not good if these are standard Oracle processes running that are creating the deadlock. A typical deadlock means Transaction A needs to get data that is being held by Transaction B whilst Transaction B needs to get data being held by Transaction A. Neither transaction can proceed without one of the sessions terminating. I'm not a DBA...but my experience has always been that one transaction has to be killed (and when Oracle detects it they kill both). I look forward to a DBA's more technical reponse!
Increasing open_cursor will not help to resolve deadlock issue, it might help to resolving exceeding maximum cursor issue.
with regards to deadlock, its happening by inefficient transactions and would be resolved by oracle itself.
when you find deadlock happen, then check the sessions are being accessed same objects by v$aceess.. and tune the transaction as changing the transaction timings.